What kind of preference maximization does the weak axiom of revealed preference characterize?

Marco Mariotti

    Research output: Contribution to journalArticlepeer-review

    6 Citations (Scopus)

    Abstract

    A (multivalued) choice is justified if no two chosen alternatives are preferred to each other, and if all chosen alternatives are preferred to all rejected alternatives. This concept permits a connection between the behavioral property expressed by WARP and a weak form of preference maximization.

    Original languageEnglish
    Pages (from-to)403-406
    Number of pages4
    JournalEconomic Theory
    Volume35
    Issue number2
    DOIs
    Publication statusPublished - May 2008

    Keywords

    • weak axiom of revealed preference
    • congruence

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