Two New Proofs of Afriat's Theorem
Ana Fostel and
Michael Todd ()
Yale School of Management Working Papers from Yale School of Management
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)
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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)
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Persistent link: https://EconPapers.repec.org/RePEc:ysm:somwrk:ysm377
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