Afriat from maxmin (Q2434960)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Afriat from maxmin |
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Afriat from maxmin (English)
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3 February 2014
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The main goal of the paper is to prove Afriat's theorem using the minmax theorem. Afriat's theorem states that a finite set of price-quantity observations is consistent with utility maximization if and only if the observable net expenditure matrix satisfies the Generalized Axiom of Revealed Preference (GARP).
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Afriat's theorem
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revealed preference
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GARP
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