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Revealed preference axioms for rational choice on nonfinite sets

Author

Listed:
  • Josep Enric Peris Ferrando

    (Universidad de Alicante)

  • Begoña Subiza Martínez

    (Universidad de Alicante)

  • Mª Carmen Sánchez Antón

    (Universidad de Murcia)

Abstract

Following the work of Bandyopadhyay and Sengupta, we analyze the rationalization of a choice function in terms of the revealed preference but in a more general context: choice sets with a continuum of alternatives. Firstly it is proved that some results which are verified in the finite case are not true in this context and new conditions to characterize the different kinds of rationality are stated. Furthermore, we analyze the continuity of the revealed preference and a characterization of open revealed preferences in terms of the hemicontinuity of the choice function is obtained.

Suggested Citation

  • Josep Enric Peris Ferrando & Begoña Subiza Martínez & Mª Carmen Sánchez Antón, 1994. "Revealed preference axioms for rational choice on nonfinite sets," Working Papers. Serie AD 1994-13, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    • Handle: RePEc:ivi:wpasad:1994-13
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    File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-1994-13.pdf
    File Function: Fisrt version / Primera version, 1994
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    Cited by:

    1. M. Carmen Sánchez, 1998. "Rational choice on non-finite sets by means of expansion-contraction axioms," Theory and Decision, Springer, vol. 45(1), pages 1-17, August.

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