What kind of preference maximization does the weak axiom of revealed preference characterize? (Q926214)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | What kind of preference maximization does the weak axiom of revealed preference characterize? |
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What kind of preference maximization does the weak axiom of revealed preference characterize? (English)
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26 May 2008
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This paper investigates properties of preference relations revealed by choices. It introduces a notion of justification of choices and proves that a necessary and sufficient condition for a choice to be justified by an asymmetric relation is to satisfy the weak axiom of revealed preference.
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revealed preference
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binary relation
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utility
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stable set
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congruence
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