Note on generated choice and axioms of revealed preference

Note on generated choice and axioms of revealed preference

0.00 Avg rating0 Votes
Article ID: iaor2001574
Country: Germany
Volume: 8
Issue: 1
Start Page Number: 57
End Page Number: 62
Publication Date: May 2000
Journal: Central European Journal of Operations Research
Authors:
Keywords: choice theory
Abstract:

In this article, we study the axiomatic foundations of revealed preference theory. Let P denote the strict and R the weak revealed preference, respectively. The purpose of the paper is to show that weak, strong, and Hansson's axiom of revealed preference can be given as cPm = cRg, ct(P)m = cRg, and ct(R)g = cPm, respectively. Here, t is the operator of the transitive closure, cPm and cRg are the generated choices in terms of maximality and in terms of greatestness.

Reviews

Required fields are marked *. Your email address will not be published.