Walker's

Walker's Theory typically refers to concepts introduced by economist Arthur Walker, who analyzed consumer behavior and the decision-making process. In essence, it explores how individuals make choices based on preferences, available options, and resource constraints. The theory emphasizes understanding economic behavior through factors like marginal utility—how much extra satisfaction is gained from additional goods—and budget limitations. This helps explain why consumers allocate their income among different products in a way that maximizes their overall satisfaction. Walker’s work provides insight into demand, pricing, and market behavior, forming a foundation for modern economic analysis of consumer decision-making.