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BY 4.0 license Open Access Published by De Gruyter Open Access August 21, 2012

On the Necessity of Pairs and Triplets for the Equivalence between Rationality Axioms

Junnan He EMAIL logo
From the journal Economics

Abstract

This paper is concerned with the axiomatic foundation of the revealed preference theory. Many well-known results in the literature rest upon the ability to choose over budget sets that contain only 2 or 3 elements. This paper shows that for any given choice function, many of the famous consistency requirements, such as those proposed by Arrow, Sen, Samuelson etc., are equivalent if every bundle of goods is chosen from some budget sets, and the domain of the choice function satisfies some set of theoretical properties.

JEL Classification: D01; D11

References

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Published Online: 2012-08-21
Published in Print: 2012-12-01

© 2012 Junnan He, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

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