Andreu Mas-Colell, Hugo Sonnenschein, Richard Kihlstrom
In this paper we provide a statement of the relationship between the weak axiom of revealed preference (WA) and the negative semidefiniteness of the matrix of substitution terms (NSD). As a corollary we determine the relation between WA and the strong axiom of revealed preference (SA). The latter is equivalent to NSD and the symmetry of the matrix of substitution terms. The former, WA, implies NSD but is not implied by NSD. Also, WA is implied by the condition that the matrix of substitution terms is negative definite (ND), but it does not imply ND. Application of these results yield an infinity of demand functions which satisfy WA but not SA.
MLA
Mas-Colell, Andreu, et al. “The Demand Theory of the Weak Axiom of Revealed Preference.” Econometrica, vol. 44, .no 5, Econometric Society, 1976, pp. 971-978, https://www.jstor.org/stable/1911539
Chicago
Mas-Colell, Andreu, Hugo Sonnenschein, and Richard Kihlstrom. “The Demand Theory of the Weak Axiom of Revealed Preference.” Econometrica, 44, .no 5, (Econometric Society: 1976), 971-978. https://www.jstor.org/stable/1911539
APA
Mas-Colell, A., Sonnenschein, H., & Kihlstrom, R. (1976). The Demand Theory of the Weak Axiom of Revealed Preference. Econometrica, 44(5), 971-978. https://www.jstor.org/stable/1911539
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