A rationalization of the weak axiom of revealed preference

VH Aguiar, P Hjertstrand, R Serrano - 2022 - econstor.eu
Samuelson's (1938) weak (generalized) axiom of revealed preference-WGARP-is a minimal
and appealing consistency condition of choice. We offer a rationalization of WGARP in …

Nontransitive preferences and stochastic rationalizability: A behavioral equivalence

M Fosgerau, J Rehbeck - arxiv preprint arxiv:2304.14631, 2023 - arxiv.org
Nontransitive choices have long been an area of curiosity within economics. However,
determining whether nontransitive choices represent an individual's preference is a difficult …

Symposium on revealed preference analysis

A Galichon, JKH Quah - Economic Theory, 2013 - Springer
Almost invariably, economic models postulate that agents behave according to some type of
maximizing behavior. This is true even of models in behavioral economics, though agents in …

The theory of weak revealed preference

VH Aguiar, P Hjertstrand, R Serrano - arxiv preprint arxiv:1906.00296, 2019 - arxiv.org
We offer a rationalization of the weak generalized axiom of revealed preference (WGARP)
for both finite and infinite data sets of consumer choice. We call it maximin rationalization, in …

Cardinal revealed preference, price-dependent utility, and consistent binary choice

VH Aguiar, R Serrano - 2018 - econstor.eu
We present a new notion of cardinal revealed preference that exploits the expenditure
information in classical consumer theory environments with finite data. We propose a new …