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Two new proofs of Afriat’s theorem

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Author Info
A. Fostel ()
H. Scarf ()
M. Todd ()

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Abstract

We provide two new, simple proofs of Afriat’s celebrated theorem stating that a finite set of price-quantity observations is consistent with utility maximization if, and only if, the observations satisfy a variation of the Strong Axiom of Revealed Preference known as the Generalized Axiom of Revealed Preference Copyright Springer-Verlag Berlin/Heidelberg 2004

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File URL: http://hdl.handle.net/10.1007/s00199-003-0438-4
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Publisher Info
Article provided by Springer in its journal Economic Theory.

Volume (Year): 24 (2004)
Issue (Month): 1 (07)
Pages: 211-219
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Handle: RePEc:spr:joecth:v:24:y:2004:i:1:p:211-219

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Related research
Keywords: Afriat’s theorem; SARP; GARP.;

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  1. Francoise Forges & Enrico Minelli, 2006. "Afriat's Theorem for General Budget Sets," Working Papers ubs0609, University of Brescia, Department of Economics. [Downloadable!]
    Other versions:
  2. Chambers, Christopher P. & Echenique, Federico, . "Supermodularizability," Working Papers 1248, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  3. Green, Jerry & Hojman, Daniel, 2007. "Choice, Rationality and Welfare Measurement," Working Paper Series rwp07-054, Harvard University, John F. Kennedy School of Government. [Downloadable!]
  4. David Laibson & Leeat Yariv, 2007. "Safety in Markets: An Impossibility Theorem for Dutch Books," Levine's Bibliography 122247000000001746, UCLA Department of Economics. [Downloadable!]
    Other versions:
  5. Teo Chung Piaw & Rakesh V. Vohra, 2003. "Afrait's Theorem and Negative Cycles," Discussion Papers 1377, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  6. Christopher Chambers & Federico Echenique, 2009. "Profit maximization and supermodular technology," Economic Theory, Springer, vol. 40(2), pages 173-183, August. [Downloadable!] (restricted)
  7. Leeat Yariv, 2004. "Safety in Markets: An Impossibility Theorem for Dutch Books," Theory workshop papers 658612000000000072, UCLA Department of Economics. [Downloadable!]
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