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Two New Proofs of Afriat's Theorem

Ana Fostel, Herbert Scarf and Michael Todd ()

No 1415, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: 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.

Keywords: Afriat's theorem; SARP; GARP (search for similar items in EconPapers)
JEL-codes: D11 D60 (search for similar items in EconPapers)
Date: 2003-05
Note: CFP 1145.
References: Add references at CitEc
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Published in Economic Theory (2004), 24(1): 211-219

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Journal Article: Two new proofs of Afriat’s theorem (2004) Downloads
Working Paper: Two New Proofs of Afriat's Theorem (2004) Downloads
Working Paper: Two New Proofs of Afriat's Theorem (2004) Downloads
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