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REVEALED PREFERENCE--A PROOF OF HOUTHAKKER'S THEOREM.

The article provides a proof of one version of Houthakker's classic theorem on revealed preference theory. The theorem asserts that if a consumer's demand functions satisfy the Strong Axiom of Revealed Preference and certain continuity conditions. It demonstrates two sequences of offer curves which...

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Published in:Econometrica Vol. 41; no. 3; pp. 411 - 424
Main Author: Stigum, Bernt P.
Format: Article
Published: Wiley-Blackwell May73
Subjects:
Consumer preferences
Supply & demand
Economic demand
Demand function
Elasticity (Economics)
Equations
Commercial products
Budget
Mathematical models of economics
Utility functions
Online Access:View this record in EBSCOhost