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We identify a natural counterpart of the standard GARP for demand data in which goods are all indivisible. We show that … standard GARP still applies. …
Persistent link: https://www.econbiz.de/10010877876
Afriat (1967) showed the equivalence of the strong axiom of revealed preference and the existence of a solution to a set of linear inequalities. From this solution he constructed a utility function rationalizing the choices of a competitive consumer. We extend Afriat’s theorem to a class of...
Persistent link: https://www.econbiz.de/10005196223