Changes

* ''Model of rational behavior for a consumer''.  In this model we assume a consumer faces a choice of ''n'' commodities labeled 1,2,...,''n'' each with a market price. The problem of rational behavior in this model then becomes an optimization problem.

* ''Model of rational behavior for a consumer''.  In this model we assume a consumer faces a choice of ''n'' commodities labeled 1,2,...,''n'' each with a market price. The problem of rational behavior in this model then becomes an optimization problem.

: This model has been used in general equilibrium theory, particularly to show existence and Pareto optimality of economic equilibria.  However, the fact that this particular formulation assigns ''numerical values'' to levels of satisfaction is the source of criticism (and even ridicule).  However, it is not an essential ingredient of the theory and again this is an idealization.[http://en.wikipedia.org/wiki/Mathematical_model]

: This model has been used in general equilibrium theory, particularly to show existence and Pareto optimality of economic equilibria.  However, the fact that this particular formulation assigns ''numerical values'' to levels of satisfaction is the source of criticism (and even ridicule).  However, it is not an essential ingredient of the theory and again this is an idealization.[https://en.wikipedia.org/wiki/Mathematical_model]

[[Category: Mathematics]]

[[Category: Mathematics]]