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The Nontransitive Consumer

Wayne J. Shafer
Econometrica
Vol. 42, No. 5 (Sep., 1974), pp. 913-919
Published by: Econometric Society
DOI: 10.2307/1913797
Stable URL: http://www.jstor.org/stable/1913797
Page Count: 7
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The Nontransitive Consumer
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Abstract

A consistent theory of demand is possible without the transitivity axiom. Here it is shown that a class of nontransitive orderings can be represented by a continuous numerical function, in such a way that an individual's demand function may be found by solving a constrained maximum problem.

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