In a recent article, Bilancini (J Econ 102:275–286, <CitationRef CitationID="CR8">2011</CitationRef>) demonstrates that assuming either price-dependent preferences or preferences that depend on the choices of other individuals can render the theory of revealed preference effectively unusable. Some readers might be tempted to infer that...</citationref>

This paper is concerned with the axiomatic foundation of the revealed preference theory. Many well-known results in the literature rest upon the ability to choose over budget sets that contain only 2 or 3 elements. This paper shows that for any given choice function, many of the famous...

This paper is concerned with the axiomatic foundation of the revealed preference theory. Many well-known results in literature rest upon the ability to choose over budget sets that contains only 2 or 3 elements, the situations which are not observable in real life. In order to give a more...

This paper is concerned with the axiomatic foundation of the revealed preference theory. Many well-known results in literature rest upon the ability to choose over budget sets that contains only 2 or 3 elements, the situations which are not observable in real life. In order to give a more...

The first part of the paper reviews the methodology developed by Sydney Afriat for determining whether a finite set of price and quantity data are consistent with utility maximizing behavior by a consumer. Some extensions of his basic model to models of consumer behavior where the structure of...

In Consistency, Choice, and Rationality, economic theorists Walter Bossert and Kotaro Suzumura present a thorough mathematical treatment of Suzumura consistency, an alternative to established coherence properties such as transitivity, quasi-transitivity, or acyclicity. Applications in individual...

A public decision maker needs to decide to allocate some subsidy towards the conditions for public transportation or for private transportation. If she wants to improve the collective welfare of the community based on the individual preferences between public and private transportation, she...

The paper shows that any sigma-transitive preference can be extended to a complete preference preserving sigma-transitivity. The result has potential applications to the theory of choice and specifically to revealed preference theory.

Revealed preference theory is not a specific theory; it is a broad programmatic framework for analyzing choice behavior. Within this broad framework there are a number of different revealed preference theories (different versions of the program)—they all share common features, but there are...

In this article, we study the axiomatic foundations of revealed preference theory. We define two revealed relations from the weak and strong revealed preference. The alternative x is preferred to y with respect to U if x, being available in an admissible set implies, the rejecting of y; and x is...