In the present paper, we are concerned with the behavioural consequences of consumers having nontransitive preference relations. Data sets consist of finitely many observations of price vectors and consumption bundles. A preference relation rationalizes a data set provided that for every...

The paper introduces an abstract economy with imperfect competition; the choice of allocation takes place through an abstract mechanism, when produceres choose strategies and the outcome is (a set of) feasible allocations, where the consumers' choices are sustained by the market mechanism at...