Two New Proofs of Afriat's Theorem

We provide two new, simple proofs of Afriat's celebrated theorem stating that a finite set of price-quantity observations is consistent with utility maximization if, and only if, the observations satisfy a variation of the Strong Axiom of Revealed Preference known as the Generalized Axiom of Revealed Preference.

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Year of publication:	2004-07-28
Authors:	Scarf, Herbert E. ; Fostel, Ana ; Todd, Michael J.
Institutions:	School of Management, Yale University
Subject:	Afriat's theorem \| SARP \| GARP

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Extent:	application/pdf
Series:	Yale School of Management Working Papers.
Type of publication:	Book / Working Paper
Classification:	C60 - Mathematical Methods and Programming. General ; D11 - Consumer Economics: Theory
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005587172