SFB 303 Discussion Paper No. A - 345

Author: John, Reinhard
Title: The Weak Axiom of Revealed Preference and Homogeneity of Demand Functions
Abstract: We characterize (a weak version of) the Weak Axiom of Revealed Preference for demand functions which are not necessarily homogenous. We relate this property to the validity of the Weak Axiom and to the negative semidefiniteness of the Slutsky substitution matrices. In particular, it is shown that the weak Axiom implies homogeneity.
JEL-Classification-Number: 022
Creation-Date: August, 1991
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