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A complementary approach to transitive rationalizability

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  • Magyarkuti, Gyula

Abstract

In this article, we study the axiomatic foundations of revealed preference theory. We define two revealed relations from the weak and strong revealed preference. The alternative x is preferred to y with respect to U if x, being available in an admissible set implies, the rejecting of y; and x is preferred to y with respect to Q if the rejecting of x implies the rejecting of y. The purpose of the paper is to show that the strong axiom of revealed preference and Hansson's axiom of revealed preference can be given with the help of U and Q and their extension properties.

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  • Magyarkuti, Gyula, 1999. "A complementary approach to transitive rationalizability," MPRA Paper 20164, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:20164
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    References listed on IDEAS

    as
    1. Kotaro Suzumura, 1976. "Rational Choice and Revealed Preference," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 43(1), pages 149-158.
    2. Duggan, John, 1999. "A General Extension Theorem for Binary Relations," Journal of Economic Theory, Elsevier, vol. 86(1), pages 1-16, May.
    3. 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.
    4. Suzumura, Kataro, 1976. "Remarks on the Theory of Collective Choice," Economica, London School of Economics and Political Science, vol. 43(172), pages 381-390, November.
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    More about this item

    Keywords

    Revealed preference theory; Szpilrajn extension.;

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General

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