Two new proofs of Afriat’s theorem

We provide two new, simple proofs of Afriat's celebrated theorem stating that a finite set of price-quantity observations is consistent with utility maximization if, and only if, the observations satisfy a variation of the Strong Axiom of Revealed Preference known as the Generalized Axiom of Revealed Preference.


Technical Report No. 1381, School of Operations Research and Industrial Engineering, Cornell University.



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