WARP does not imply SARP for more than two commodities.
A study was conducted to determine whether the Weak Axiom of Revealed Preference (WARP) for consumer demand functions implies the Strong Axiom of Revealed Preference (SARP) for more than two commodities. In previous research Gale constructed an example where WARP was satisfied, but SARP was violate...
| Publicado en: | Journal of Economic Theory Vol. 62; pp. 152 - 161 |
|---|---|
| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Academic Press Inc.
February 1994
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=512388447&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 512388447 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00220531 RTH jtl: Journal of Economic Theory issn: 00220531 maglogo: N pubinfo: dt: February 1994 vid: 62 pid: 735 pub: Academic Press Inc. artinfo: ui: 512388447 10.1006/jeth.1994.1008 ppf: 152 ppct: 9 formats: tig: atl: WARP does not imply SARP for more than two commodities. aug: au: Peters, Hans Wakker, Peter su: Consumer preferences Mathematical models Economic demand sug: subj: Consumer preferences Mathematical models Economic demand ab: A study was conducted to determine whether the Weak Axiom of Revealed Preference (WARP) for consumer demand functions implies the Strong Axiom of Revealed Preference (SARP) for more than two commodities. In previous research Gale constructed an example where WARP was satisfied, but SARP was violated. Gale's construction, however, applies only to the case of three commodities and leaves the question open for more commodities. By providing actual counterexamples for four or more commodities, it is possible to demonstrate in a constructive way that WARP cannot imply SARP. These examples are developed by a nontrivial embedding of Gale's counterexample in higher dimensions. Demand functions defined on convex compact non-linear budget sets are used as an intermediate tool. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
|---|