A simple cycle preserving extension of a demand function.
A commentary on the recent work of H. Peters and P. Wakker who extended classical examples in revealed preference theory by D. Gale (1960) and W. Shafer (1977) to the case of more than three commodities. The writers argue that there is a much simpler proof of the results, and they define a cycle pr...
| Published in: | Journal of Economic Theory Vol. 72; pp. 442 - 446 |
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| Main Author: | |
| Format: | Article |
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Academic Press Inc.
February 1997
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |
| Summary: | A commentary on the recent work of H. Peters and P. Wakker who extended classical examples in revealed preference theory by D. Gale (1960) and W. Shafer (1977) to the case of more than three commodities. The writers argue that there is a much simpler proof of the results, and they define a cycle preserving extension of a demand function to new commodities that is a variant of the trivial one of Peters and Wakker. |
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