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Afriat's theorem for indivisible goods

Iehlé, Vincent; Forges, Françoise (2014), Afriat's theorem for indivisible goods, Journal of Mathematical Economics, 54, p. 1-6. http://dx.doi.org/10.1016/j.jmateco.2014.08.001

Type
Article accepté pour publication ou publié
External document link
http://halshs.archives-ouvertes.fr/halshs-00870052
Date
2014
Journal name
Journal of Mathematical Economics
Volume
54
Publisher
Elsevier
Pages
1-6
Publication identifier
http://dx.doi.org/10.1016/j.jmateco.2014.08.001
Metadata
Show full item record
Author(s)
Iehlé, Vincent cc
Forges, Françoise
Abstract (EN)
We identify a natural counterpart of the standard GARP for demand data in which goods are all indivisible. We show that the new axiom (DARP, for "discrete axiom of revealed preference") is necessary and sufficient for the rationalization of the data by a well-behaved utility function. Our results complement the main finding of Polisson and Quah, Am. Econ. J.: Micro. 5(1) p.28-34 (2013), who rather minimally modify the original consumer problem with indivisible goods so that the standard GARP still applies.
Subjects / Keywords
revealed preference; rationalization; indivisible goods; GARP; Afriat's theorem
JEL
C81 - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
D11 - Consumer Economics: Theory

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