Disentangling Revealed Preference from Rationalization by a Preference

The weak axiom of revealed preference (WARP) ensures that the revealed preference (i) is a preference relation (i.e., it is complete and transitive) and (ii) rationalizes the choices. However, when WARP fails, either one of these two properties is violated, but it is unclear which one it is. We provide an alternative characterization of WARP by showing that WARP is equivalent to the conjunction of two axioms each of which separately guarantees (i) and (ii)

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Year of publication:	[2023]
Authors:	Schenone, Pablo
Publisher:	[S.l.] : SSRN
Subject:	Offenbarte Präferenzen \| Revealed preferences \| Rationalität \| Rationality \| Präferenztheorie \| Theory of preferences

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Extent:	1 Online-Ressource (12 p)
Type of publication:	Book / Working Paper
Language:	English
Other identifiers:	10.2139/ssrn.4489444 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014347467