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What kind of preference maximization does the weak axiom of revealed non-inferiority characterize?

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  • Lombardi, Michele

Abstract

A choice correspondence is weak justified if a non-chosen alternative is dominated by any other obtainable alternative, and for each discarded alternative there is some chosen alternative which dominates it. This definition allows us to build a connection between the behavioral property expressed by the weak axiom of revealed non-inferiority and a weak form of maximality. It is weaker than the form of maximality characterized by the weak axiom of revealed preference.

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  • Lombardi, Michele, 2010. "What kind of preference maximization does the weak axiom of revealed non-inferiority characterize?," Mathematical Social Sciences, Elsevier, vol. 59(3), pages 323-325, May.
    • Handle: RePEc:eee:matsoc:v:59:y:2010:i:3:p:323-325
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    Keywords

    Weak axiom of revealed non-inferiority Preference maximization;

    JEL classification:

    • D0 - Microeconomics - - General

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