An Extension Theorem for Rational Choice Functions
AbstractA choice function is strictly rational whenever it can be rationalized by a preference relation in a manner such that alternati ves in a choice set are strictly preferred to alternatives in the cor responding rejection set. The author demonstrates an extension theore m that asserts that a preference relation strictly rationalizes the c hoice function if, and only if, the choice function satisfies the wea k axiom of revealed preference and the preference relation is an exte nsion of the revealed weak preference relation. The author then consi ders various applications to rational choice theory. Copyright 1988 by The Review of Economic Studies Limited.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Review of Economic Studies.
Volume (Year): 55 (1988)
Issue (Month): 3 (July)
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