Individual preference rankings compatible with prices, income distributions and total resources
AbstractWe consider the problem of determining the individual preference rankings that are necessarily implied by a dataset consisting of prices, income distributions and total resources. We show the equivalence between the compatibility with individual preference rankings and the existence of a solution to a set of linear equalities and inequalities. Using this characterization, we give new proofs of the rationalizability of finite data sets where total resources are close to being collinear and the contractibility and pathconnectedness of the set that consists of rationalizable finite datasets.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 45 (2010)
Issue (Month): 3 (December)
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
Other versions of this item:
- Yves Balasko & Mich Tvede, 2009. "Individual Preference Rankings Compatible with Prices, Income Distributions and Total Resources," Discussion Papers 09-09, University of Copenhagen. Department of Economics.
- D1 - Microeconomics - - Household Behavior
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
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