What's really true is that people are, 99% of the time, not actually given that choice. For "revealed preferences theory" to work, the people involved would need to consistently have a free choice between two options. And for people who have had their finances gradually stretched and stretched over the past 40 years of growing inequality, "cheaper but worse" is not a free choice.
What's really true is that people are, 99% of the time, not actually given that choice. For "revealed preferences theory" to work, the people involved would need to consistently have a free choice between two options. And for people who have had their finances gradually stretched and stretched over the past 40 years of growing inequality, "cheaper but worse" is not a free choice.