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...
| Published in: | Journal of Economic Theory Vol. 62; pp. 152 - 161 |
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| Main Authors: | , |
| Format: | Article |
| Published: |
Academic Press Inc.
February 1994
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |