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Revealed preferences: A topological approach

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  • Magyarkuti, Gyula

Abstract

The purpose of this paper is to study the relationship between the axiomatic foundations of revealed preference theory and the continuity properties of choice. The main result of this paper shows that the continuity of a set-to-point choice function is equivalent to the weak axiom of revealed preference and openness of the strict revealed relation, provided that the collection of budget sets is endowed with a topology used widely by economists.

Suggested Citation

  • Magyarkuti, Gyula, 2010. "Revealed preferences: A topological approach," Journal of Mathematical Economics, Elsevier, vol. 46(3), pages 320-325, May.
  • Handle: RePEc:eee:mateco:v:46:y:2010:i:3:p:320-325
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    References listed on IDEAS

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    1. Kotaro Suzumura, 1976. "Rational Choice and Revealed Preference," Review of Economic Studies, Oxford University Press, vol. 43(1), pages 149-158.
    2. Clark, Stephen A, 1985. "A Complementary Approach to the Strong and Weak Axioms of Revealed Preference," Econometrica, Econometric Society, vol. 53(6), pages 1459-1463, November.
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    Cited by:

    1. Nishimura, Hiroki & Ok, Efe A., 2014. "Non-existence of continuous choice functions," Journal of Economic Theory, Elsevier, vol. 153(C), pages 376-391.

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