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Weak axiomatic demand theory

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Abstract

This paper identifies a class of complete but not necessarily transitive preferences which generate demand functions that obey the weak axiom of revealed preference and within which any function obeying the weak axiom can be rationalized.

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Reference

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Correspondence to John K-H. Quah.

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Quah, J.K. Weak axiomatic demand theory. Economic Theory 29, 677–699 (2006). https://doi.org/10.1007/s00199-005-0017-y

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Keywords

  • Weak axiom of revealed preference
  • Violations of transitivity
  • Rationalizability
  • Demand

JEL Classification Numbers

  • C61
  • D11
  • D50