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Afriat and arbitrage

Abstract:
This paper presents a proof of Afriat’s (Int Econ Rev 8:67–77) theorem on revealed preference by using the idea that a rational consumer should not be vulnerable to arbitrage. The main mathematical tool is the separating hyperplane theorem.
Publication status:
Published
Peer review status:
Peer reviewed

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Publisher copy:
10.1007/s40505-021-00208-w

Authors


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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Oxford college:
Wadham College
Role:
Author
ORCID:
0000-0001-9485-3060


Publisher:
Springer
Journal:
Economic Theory Bulletin More from this journal
Volume:
9
Issue:
2
Pages:
167–176
Publication date:
2021-08-21
Acceptance date:
2021-08-02
DOI:
EISSN:
2196-1093
ISSN:
2196-1085


Language:
English
Keywords:
Pubs id:
1191872
Local pid:
pubs:1191872
Deposit date:
2021-08-22

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