What Kind of Preference Maximization Does the Weak Axiom of Revealed Non-inferiority Characterize?
AbstractA multi-valued choice is weak justified if no 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 notion of rationality. Our notion of rationaity is weaker than that characterized by the weak axiom of revealed preference.
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Bibliographic InfoPaper provided by Queen Mary, University of London, School of Economics and Finance in its series Working Papers with number 606.
Date of creation: Sep 2007
Date of revision:
Weak axiom of revealed non-inferiority;
Find related papers by JEL classification:
- D0 - Microeconomics - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-09-09 (All new papers)
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- Bandyopadhyay, Taradas & Sengupta, Kunal, 1993. "Characterization of Generalized Weak Orders and Revealed Preference," Economic Theory, Springer, vol. 3(3), pages 571-76, July.
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