For Weak Axiom Of Revealed Preference we have a term and definition in International Economics.

Weak Axiom Of Revealed Preference (International Economics)

The assumption that a consumer who reveals strict preference for one bundle of goods over another will not, in other circumstances, reveal their preference for the second over the first. That is, if qi, qj are the vectors of goods purchased at prices pi, pj respectively, then piqi>piqj Þ pjqi>pjqj. Used in proving correlation results.

Similar

Browse words that start with:

• We
• Wea
• Weak
• Weak

Browse All Terms by First Letter

Term Search