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A Generalization of Sen’s Unification Theorem: Avoiding the Necessity of Pairs and Triplets

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  • He, Junnan

Abstract

This paper is concerned with the axiomatic foundation of the revealed preference theory. Many well-known results in literature rest upon the ability to choose over budget sets that contains only 2 or 3 elements, the situations which are not observable in real life. In order to give a more realistic approach, this paper shows that many of the famous consistency requirements, such as those proposed by Arrow, Sen, Samuelson etc., are equivalent if the domain of choice functions satisfy some set theoretical properties. And these properties, unions and inclusions for example, are proposed in a way that gives observability.

Suggested Citation

  • He, Junnan, 2011. "A Generalization of Sen’s Unification Theorem: Avoiding the Necessity of Pairs and Triplets," MPRA Paper 37094, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:37094
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    References listed on IDEAS

    as
    1. Taradas Bandyopadhyay, 1988. "Revealed Preference Theory, Ordering and the Axiom of Sequential Path Independence," Review of Economic Studies, Oxford University Press, vol. 55(2), pages 343-351.
    2. Kotaro Suzumura, 1976. "Rational Choice and Revealed Preference," Review of Economic Studies, Oxford University Press, vol. 43(1), pages 149-158.
    3. Amartya K. Sen, 1971. "Choice Functions and Revealed Preference," Review of Economic Studies, Oxford University Press, vol. 38(3), pages 307-317.
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    More about this item

    Keywords

    Revealed Preference Theory; Rationality; Ordering; Preference; Choice function;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles

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