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The Review of Economic Studies
Article . 1971 . Peer-reviewed
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Choice Functions and Revealed Preference

Choice functions and revealed preference
Authors: Sen, Amartya K.;

Choice Functions and Revealed Preference

Abstract

(1) Much of revealed preference theory has been concerned with choices restricted to certain distinguished subsets of alternatives, in particular to a class of convex polyhedra (e.g., " budget triangles " in the two commodity case). This restriction may have some rationale for analyzing the preferences of competitive consumers, but it makes the results unusable for other types of choices, e.g., of government bureaucracies, of voters, of consumers in an imperfect market. If the restriction is removed, the axiomatic structure of revealed preference theory changes radically. This axiomatic structure is studied in Sections 2-5. In Section 6 the rationale of restricting the domain of choice functions and that of rationality conditions is critically examined.

Related Organizations
Keywords

Statistical decision theory, Decision theory

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
544
Top 1%
Top 0.1%
Average
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