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SHOW YOUR WORK in detailes Let X = {1,2,3,4} be the set of alternatives and D be the set of all nonempty subsets of X
SHOW YOUR WORK in detailes
Let X = {1,2,3,4} be the set of alternatives and D be the set of all nonempty subsets of X that constitute a context. Let the choice function 0 on D is defined as follows: C({$}) = {as} for all z E X, C({w,y}) = {max{$,y}} for all my 6 X, C({:E,y,z}) = {max{$,y,z}} for all 2:,y, z E X, and C({1,2,3,4}) = {1}. Does C satisfy Weak Axiom of Revealed Preferences (WA)? Explain. Show your workStep by Step Solution
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