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A Stronger Case for Transitive Preferences

Author

Listed:
  • Theodore Turocy

    (Texas A&M University)

Abstract

The assumption that preferences are transitive, or, equivalently, that choice behavior satisfies the Weak Axiom of Revealed Preference, is at the core of most economic theory. While this is a natural assumption, one could ask the degree to which it is restrictive: are there objectives that could not be attained by such behavior that could be attained by choices violating the assumption? It is argued that the answer to this question is no in one setting of choice under random budget sets.

Suggested Citation

  • Theodore Turocy, 2005. "A Stronger Case for Transitive Preferences," Game Theory and Information 0505004, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpga:0505004
    Note: Type of Document - pdf; pages: 5
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/game/papers/0505/0505004.pdf
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    More about this item

    Keywords

    transitivity;

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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