He, Junnan (2011): A Generalization of Sen’s Unification Theorem: Avoiding the Necessity of Pairs and Triplets.
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This paper is concerned with the axiomatic foundation of the revealed preference theory. Many well-known results in literature rest upon the ability to choose over budget sets that contains only 2 or 3 elements, the situations which are not observable in real life. In order to give a more realistic approach, this paper shows that many of the famous consistency requirements, such as those proposed by Arrow, Sen, Samuelson etc., are equivalent if the domain of choice functions satisfy some set theoretical properties. And these properties, unions and inclusions for example, are proposed in a way that gives observability.
|Item Type:||MPRA Paper|
|Original Title:||A Generalization of Sen’s Unification Theorem: Avoiding the Necessity of Pairs and Triplets|
|Keywords:||Revealed Preference Theory; Rationality; Ordering; Preference; Choice function|
|Subjects:||D - Microeconomics > D1 - Household Behavior and Family Economics > D11 - Consumer Economics: Theory
D - Microeconomics > D0 - General > D01 - Microeconomic Behavior: Underlying Principles
|Depositing User:||Junnan He|
|Date Deposited:||05. Mar 2012 03:42|
|Last Modified:||20. Feb 2013 22:36|
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