Chernoff's dual axiom, revealed preference and weak rational choice functions (Q759607)
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scientific article; zbMATH DE number 3882139
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Chernoff's dual axiom, revealed preference and weak rational choice functions |
scientific article; zbMATH DE number 3882139 |
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Chernoff's dual axiom, revealed preference and weak rational choice functions (English)
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1985
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A new and a weaker concept of rationalizability is introduced and its implications on the properties of individual choice are investigated. Especially, (i) it is shown that a property of choice functions, called Chernoff's dual axiom in this paper, plays a crucial role for the rationality of choice, and (ii) weakening the concept of rationalizability facilitates characterization of revealed preference relations.
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rationalizability
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individual choice
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Chernoff's dual axiom
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rationality of choice
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revealed preference
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