Two New Proofs of Afriat's Theorem

Herbert Scarf, Ana Fostel and Michael Todd

Yale School of Management Working Papers from Yale School of Management

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: C60 D11 (search for similar items in EconPapers)
Date: 2004-07-28
References: Add references at CitEc
Citations: View citations in EconPapers (77)

Downloads: (external link)
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=412491 (application/pdf)

Related works:
Journal Article: Two new proofs of Afriat’s theorem (2004)
Working Paper: Two New Proofs of Afriat's Theorem (2004)
Working Paper: Two New Proofs of Afriat's Theorem (2003)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ysm:somwrk:ysm377

Access Statistics for this paper

More papers in Yale School of Management Working Papers from Yale School of Management Contact information at EDIRC.
Bibliographic data for series maintained by ().