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Economics
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Consumer Theory
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Weak Axiom of Revealed Preference (WARP)
Weak Axiom of Revealed Preference (WARP)
If bundle
B
1
B_1
B
1
is chosen over
B
2
B_2
B
2
, then
B
2
B_2
B
2
must not be preferred to
B
1
B_1
B
1
. Formally, if
B
1
⊳
B
2
B_1 \rhd B_2
B
1
⊳
B
2
, then
B
2
⊳
B
1
B_2 \rhd B_1
B
2
⊳
B
1
is not true.