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 publiéExternal document link
http://halshs.archives-ouvertes.fr/halshs-00870052Date
2014Journal name
Journal of Mathematical EconomicsVolume
54Publisher
Elsevier
Pages
1-6
Publication identifier
Metadata
Show full item recordAbstract (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 theoremRelated items
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