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The Unimportance of the Intransitivity of Separable Preferences

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  • Epstein, Larry G

Abstract

If preferences are strongly separable in the pointwise partition of goods, then demand functions implied by an intransitive preference ordering can also be generated by a transitive (and strongly separable) ordering. Thus, if strong separability is appropriate, intransitivity is not empirically detectable from demand behavior. Two applications are discussed-the "expected-regret" model of choice under uncertainty and the robustness of turnpike propositions of capital theory. Copyright 1987 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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  • Epstein, Larry G, 1987. "The Unimportance of the Intransitivity of Separable Preferences," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 28(2), pages 315-322, June.
  • Handle: RePEc:ier:iecrev:v:28:y:1987:i:2:p:315-22
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    Cited by:

    1. Gerasímou, Georgios, 2010. "Consumer theory with bounded rational preferences," Journal of Mathematical Economics, Elsevier, vol. 46(5), pages 708-714, September.
    2. Theodore Turocy, 2007. "On the sufficiency of transitive preferences," Economics Bulletin, AccessEcon, vol. 4(22), pages 1-9.
    3. repec:ebl:ecbull:v:4:y:2007:i:22:p:1-9 is not listed on IDEAS

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