Tag Archives: ice cream

As a social scientist, I would just like to come right out and acknowledge my bias. Between chocolate, vanilla, and strawberry ice cream, chocolate is my favorite, followed by vanilla, then strawberry.This article is intended to explain a fundamental concept in microeconomics, consumer preferences, using a sweet example. To model consumer behavior, economists look at how consumers make comparisons between goods. Briefly, some notes on notation. If I said, “I like chocolate better than vanilla ice cream,” it would be written as Chocolate ≻ Vanilla. (Note, ≻ is not the same as >, which is used for ordering preferences) If I Continue reading Accounting for Taste: Ice Cream Preferences→