Revealed preference and linear utility |
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| Authors: | Stephen A Clark |
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| Institution: | (1) Department of Statistics, University of Kentucky, 40506-0027 Lexington, KY, U.S.A. |
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| Abstract: | We study a Linear Axiom of Revealed Preference (LARP) that characterizes the consistency of a choice function with respect to a preference order satisfying the independence axiom. In addition, LARP characterizes lexicographic linear utility rationality when the choice space is a convex subset of a finite-dimensional real vector space, and LARP characterizes linear utility rationality when the choice space corresponds to a finite choice experiment. |
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| Keywords: | Independence axiom linear utility lexicographic linear utility revealed preference rational choice |
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