Afriat and arbitrage
نویسندگان
چکیده
Abstract This paper presents a proof of Afriat’s (Int Econ Rev 8:67–77) theorem on revealed preference by using the idea that rational consumer should not be vulnerable to arbitrage. The main mathematical tool is separating hyperplane theorem.
منابع مشابه
Afriat from MaxMin
Afriat’s original method of proof is restored by using the minmax theorem.
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ژورنال
عنوان ژورنال: Economic Theory Bulletin
سال: 2021
ISSN: ['2196-1085', '2196-1093']
DOI: https://doi.org/10.1007/s40505-021-00208-w