Afriat and arbitrage

Alan Beggs

Economic Theory Bulletin, 2021, vol. 9, issue 2, No 2, 167-176

Abstract: Abstract This paper presents a proof of Afriat’s (Int Econ Rev 8:67–77) theorem on revealed preference by using the idea that a rational consumer should not be vulnerable to arbitrage. The main mathematical tool is the separating hyperplane theorem.

Keywords: Afriat’s theorem; Revealed preference; Arbitrage; Separating hyperplane theorem (search for similar items in EconPapers)
JEL-codes: D11 G12 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s40505-021-00208-w

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