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What kind of preference maximization does the weak axiom of revealed non-inferiority characterize?

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  • Lombardi, Michele

Abstract

A choice correspondence is weak justified if a non-chosen alternative is dominated by any other obtainable alternative, and for each discarded alternative there is some chosen alternative which dominates it. This definition allows us to build a connection between the behavioral property expressed by the weak axiom of revealed non-inferiority and a weak form of maximality. It is weaker than the form of maximality characterized by the weak axiom of revealed preference.

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Bibliographic Info

Article provided by Elsevier in its journal Mathematical Social Sciences.

Volume (Year): 59 (2010)
Issue (Month): 3 (May)
Pages: 323-325

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Handle: RePEc:eee:matsoc:v:59:y:2010:i:3:p:323-325

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Web page: http://www.elsevier.com/locate/inca/505565

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Keywords: Weak axiom of revealed non-inferiority Preference maximization;

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  1. Kim, Taesung & Richter, Marcel K., 1986. "Nontransitive-nontotal consumer theory," Journal of Economic Theory, Elsevier, vol. 38(2), pages 324-363, April.
  2. Richard Blundell & Martin Browning & Ian Crawford, 1998. "Nonparametric Engel Curves and Revealed Preference," Discussion Papers 99-07, University of Copenhagen. Department of Economics.
  3. Kim, Taesung, 1987. "Intransitive Indifference and Revealed Preference," Econometrica, Econometric Society, vol. 55(1), pages 163-67, January.
  4. Marco Mariotti, 2008. "What kind of preference maximization does the weak axiom of revealed preference characterize?," Economic Theory, Springer, vol. 35(2), pages 403-406, May.
  5. Herzberger, Hans G, 1973. "Ordinal Preference and Rational Choice," Econometrica, Econometric Society, vol. 41(2), pages 187-237, March.
  6. Richard Blundell, 2005. "Presidential Address: How Revealing Is Revealed Preference?," Journal of the European Economic Association, MIT Press, vol. 3(2-3), pages 211-235, 04/05.
  7. Bandyopadhyay, Taradas & Sengupta, Kunal, 1993. "Characterization of Generalized Weak Orders and Revealed Preference," Economic Theory, Springer, vol. 3(3), pages 571-76, July.
  8. Bandyopadhyay, Taradas & Sengupta, Kunal, 2003. "Intransitive indifference and rationalizability of choice functions on general domains," Mathematical Social Sciences, Elsevier, vol. 46(3), pages 311-326, December.
  9. Eliaz, Kfir & Ok, Efe A., 2006. "Indifference or indecisiveness? Choice-theoretic foundations of incomplete preferences," Games and Economic Behavior, Elsevier, vol. 56(1), pages 61-86, July.
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