New answers tagged preferences
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In revealed preference (RP), is any two points $x,y$ related by the indirect revealed preference relation?
No. Let $X=[-1,1]$ and $u:X\to\mathbb{R}$ be given by $u(x)=-|x|$. Then, $u$ represents strictly convex preferences. Moreover, $0.5\succ -1$. Now, the only points that $0.5$ is revealed preferred to ...
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