Two New Proofs of Afriat's Theorem
We provide two new, simple proofs of Afriat's celebrated theorem stating that a finite set of price-quantity observations is consistent with utility maximization if, and only if, the observations satisfy a variation of the Strong Axiom of Revealed Preference known as the Generalized Axiom of Revealed Preference.
|Date of creation:||28 Jul 2004|
|Date of revision:|
|Contact details of provider:|| Web page: http://icf.som.yale.edu/|
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