The use of revealed preference in a fuzzy setting. Some preliminary results

• E.E. Haven ^[1]
  1. [1] Consortium McGill University
• Localización: Fuzzy economic review, ISSN 1136-0593, Vol. 1, Nº. 2, 1996
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • The Weak Axiom of Revealed Preference (WARP) is an important axiom in microeconomic theory. This paper discusses the topic in a fuzzy setting. Using simple concepts of fuzzy mathematics, we show that although we violate WARP we can still be declared rational up to some degree. This is a useful result. The paper discusses how we could properly define, within a fuzzy setting, a "Greatest set". The choice function is defined and equated to the nearest Maximal set or to the nearest Greatest set, both of which are "crisp" sets. A simple formulation is proposed, which may enable us to assert degrees of rationality even tough we violate WARP