A central conclusion of the standard theory of consumption is that consumers' preferences can be taken as theoretical primitives. Special categories of consumption, such as "basic needs", or of goods, such as "subsistence goods" are seen as extra theoretical baggage that add few, if any,...

A central conclusion of the standard theory of consumption is that consumers’ preferences can be taken as theoretical primitives. Special categories of consumption, such as “basic needs”, or of goods, such as “subsistence goods” are seen as extra theoretical baggage that add few, if...