Dasgupta, Indraneel; Pattanaik, Prasanta K. - University <Nottingham> / Department of Economics; … - 2004
We explore the relation between two 'rationality conditions' for stochastic choicebehaviour: regularity and the weak axiom of stochastic revealed preference (WASRP). We show thatWASRP implies regularity, but the converse is not true. We identify a restriction on the domain ofthe stochastic...