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# slide20-oct17 - REVEALED PREFERENCE Siyang Xiong Rice...

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REVEALED PREFERENCE Siyang Xiong Rice University October 16, 2011 Xiong (Rice University) ECON 401 October 16, 2011 1 / 8

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Revealed Preference x ; y 2 A \ B . If x 2 c ( A ) and y 2 c ( B ) , then x 2 c ( B ) . : If x 2 B A and x 2 c ( A ) , then x 2 c ( B ) . then he must also be the champion of Pakistan. ± : If x ; y 2 c ( A ) , A B and y 2 c ( B ) , then x 2 c ( B ) . then all champions (in this game) of Pakistan are also world champion. Xiong (Rice University) ECON 401 October 16, 2011 2 / 8
Revealed Preference Theorem and ± . Theorem If is rational, c ( ± ; ) and ± . Xiong (Rice University) ECON 401 October 16, 2011 3 / 8

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Revealed Preference: an example An example: X = f x ; y ; z g ; 2 X = f ? ; f
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## slide20-oct17 - REVEALED PREFERENCE Siyang Xiong Rice...

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