Disentangling Revealed Preference from Rationalization by a Preference
| Author | : Pablo Schenone |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2023 |
| ISBN-10 | : OCLC:1398445089 |
| ISBN-13 | : |
| Rating | : 4/5 ( Downloads) |
Book Synopsis Disentangling Revealed Preference from Rationalization by a Preference by : Pablo Schenone
Download or read book Disentangling Revealed Preference from Rationalization by a Preference written by Pablo Schenone and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The weak axiom of revealed preference (WARP) ensures that the revealed preference (i) is a preference relation (i.e., it is complete and transitive) and (ii) rationalizes the choices. However, when WARP fails, either one of these two properties is violated, but it is unclear which one it is. We provide an alternative characterization of WARP by showing that WARP is equivalent to the conjunction of two axioms each of which separately guarantees (i) and (ii).
