Note on generated choice and axioms of revealed preference
In this article, we study the axiomatic foundations of revealed preference theory. Let P denote the strict and R the weak revealed preference, respectively. The purpose of the paper is to show that weak, strong, and Hansson's axioms of revealed preference can be given as identities using the generated choices with respect to P and R in terms of maximality and in terms of greatestness.
|Date of creation:||2000|
|Date of revision:||01 Feb 2010|
|Publication status:||Published in Central Europen Journal of Operations Research 1.8(2000): pp. 57-62|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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- Suzumura, Kotaro, 1977. "Houthakker's axiom in the theory of rational choice," Journal of Economic Theory, Elsevier, vol. 14(2), pages 284-290, April.
- Kotaro Suzumura, 1976. "Rational Choice and Revealed Preference," Review of Economic Studies, Oxford University Press, vol. 43(1), pages 149-158.
- Duggan, John, 1999. "A General Extension Theorem for Binary Relations," Journal of Economic Theory, Elsevier, vol. 86(1), pages 1-16, May.
- Amartya K. Sen, 1971. "Choice Functions and Revealed Preference," Review of Economic Studies, Oxford University Press, vol. 38(3), pages 307-317.
- 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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