Revealed preference and revealed preference cycles: A survey

B-Tier
Journal: Journal of Mathematical Economics
Year: 2024
Volume: 113
Issue: C

Authors (3)

Dziewulski, Paweł (not in RePEc) Lanier, Joshua (not in RePEc) Quah, John K.-H. (National University of Singapo...)

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Afriat’s Theorem (1967) states that a dataset can be thought of as being generated by a consumer maximizing a continuous and increasing utility function if and only if it is free of revealed preference cycles containing a strict relation. The latter property is often known by its acronym, GARP (for generalized axiom of revealed preference). This paper surveys extensions and applications of Afriat’s seminal result. We focus on those results where the consistency of a dataset with the maximization of a utility function satisfying some property can be characterized by a suitably modified version of GARP.

Technical Details

RePEc Handle
repec:eee:mateco:v:113:y:2024:i:c:s0304406824000764
Journal Field
Theory
Author Count
3
Added to Database
2026-01-29