Nontransitive-nontotal consumer theory
type: Item
instance of: scholarly article
title: Nontransitive-nontotal consumer theory
zbMATH Open document ID: 0598.90005
DOI: 10.1016/0022-0531(86)90122-5
author: Tae-Sung Kim
author: Marcel K. Richter
published in: Journal of Economic Theory
publication date: 1986-01-01T00:00:00Z
full work available at URL: http://purl.umn.edu/55496
review text: We show the parallel nature of two approaches to nontransitive or nontotal consumers: through ''weak'' preferences and though ''strict'' preferences''. This yields specific results (e.g., a new equilibrium existence theorem with weak preferences), general results (a metatheorem translating between the two approaches), and general concepts (a new notion of ''rationality''). We give revealed preference axioms to characterize preferences, and prove equivalences among several axiom systems, showing that the apparent weakness of some axiom systems is illusory. We resolve a weak axiom conjecture, and we introduce a new axiom. We prove that our nonclassical consumers generalize classical equilibrium theory.
Mathematics Subject Classification ID: 91B10
zbMATH DE Number: 3965758
zbMATH Keywords: nontransitive or nontotal consumers
zbMATH Keywords: ''weak'' preferences
zbMATH Keywords: ''strict'' preferences''
zbMATH Keywords: equilibrium existence theorem
MaRDI profile type: Publication
OpenAlex ID: W2017120373
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description: scientific article; zbMATH DE number 3965758