Re:Alchian–Allen effect
by zwaps on Tuesday November 13, 2018 @08:55PM
(#18446747)
Then it is a theorem, as it is tautologically implied by certain axioms imposed on preference relations or choice correspondences, such as completeness, transitivity and a notion of continuity.
Since the whole theory won't fit in one wikipedia article, I suggest you read the first chapters or either
a) Mas-Collel, Whinston and Green
or
b) Kreps, Microeconomic Foundations I (not the old undergrad book from him)
This would provide you with the theory to understand this result in a more mathematical correct way.
Since the whole theory won't fit in one wikipedia article, I suggest you read the first chapters or either a) Mas-Collel, Whinston and Green or b) Kreps, Microeconomic Foundations I (not the old undergrad book from him)
This would provide you with the theory to understand this result in a more mathematical correct way.