An Extension Theorem for Non-transitive Preferences

The paper shows that any sigma-transitive preference can be extended to a complete preference preserving sigma-transitivity. The result has potential applications to the theory of choice and specifically to revealed preference theory.Non-transitive preferences; Revealed preference theory

Three-types models of multidimensional screening

This paper analyzes the variety of optimal screening contracts in a relatively simple multidimensional framework a` la Armstrong and Rochet (1999), when only three types of agents are present. It is shown, among other things, that the well known principle in optimal contract theory of `no distortion at the top' does not carry over to the multidimensional caseAsymmmetric information; multidimensional screening; optimal contract

A Hypothesis Guaranteeing the Weak Weak Axiom

The Weak Weak Axiom (WWA) for the aggregate excess demand function ensures uniqueness of equilibrium in regular economies. Jerison (1999) shows that the WWA holds if the excess demand satisfies the hypothesis of Nondecreasing Dispersion of Excess Demand (NDED). This note offers a new hypothesis guaranteeing that the WWA holds and suggests a new way for obtaining supporting empirical evidence

A note on the demand theory of the weak axioms

Digitised version produced by the EUI Library and made available online in 2020

An Extension Theorem for Non-transitive Preferences

Abstract The paper shows that any σ-transitive preference can be extended to a complete preference preserving σ-transitivity. The result has potential applications to the theory of choice and specifically to revealed preference theory

Microeconomia - Teoria ed esercizi svolti

Manuale di microeconomia di livello intermedio con esercizi svolt

Aggregation across agents in demand systems

First made available online on 17 March 202

A Stronger Criterion for the Weak Weak Axiom

The Weak Weak Axiom (WWA) is a milder version of the Weak Axiom of Revealed Preference (WA) and is equivalent to pseudomonotonicity of the excess demand function.Since the WWA guarantees uniqueness of the equilibrium in a broad class of general equilibrium models, it is important to have criteria to check when the WWA holds.In this paper a new and more general characterization ofpseudomonotonicity for $C^1$ maps is provided. Using this result we obtain a stronger criterion for the WWA than those available in the literature.A complete characterization of the WA for excess demand functions is also offered and other important existing results are obtained in a straightforward fashion

An Extension Theorem for Non-Transitive Preferences

In his classical contribution Szpilrajn (1930) shows that any quasi-ordering (a reflexive and transitive binary relation) can be extended to an ordering (a complete quasi-ordering). The purpose of this paper is to provide an analogous extension result for non-transitive preferences. The case of quasi-transitivity (transitivity of the strict preference) is trivial since it suffices to `complete' the original preference by putting indifference for all pairs of alternatives that are non-comparable. The focus of our analysis is a different notion of non-transitivity called $\sigma$-transitivity and put forward bySen (1970).Our main result is an extension theorem which shows that any $\sigma$-transitive preference can be extended to a complete preference preserving$\sigma$-transitivity. We also provide the dual result in terms of a strict preference approach.Finally, we show an application to the theory of choice by providing a new characterization of the Weak Axiom of Revealed Preference