A demand function for pseudotransitive preferences
Year of publication: 1994
Issue: 4
Pages: 1-24
Type: Working paper
Abstract
This paper deals with the existence and properties of the demand correspondence when agents' preferences are pseudotransitive. It is shown that a consumption plan belongs to the demand mapping if and only if it is a maximizer of a real-valued weak utility function. Further properties, as hemicontinuity and convex-valuedness of the demand mapping, are also analyzed.