What kind of preference maximization does the weak axiom of revealed non-inferiority characterize?

Abstract

A choice correspondence is weak justified if a non-chosen alternative is dominated by any other obtainable alternative, and for each discarded alternative there is some chosen alternative which dominates it. This definition allows us to build a connection between the behavioral property expressed by the weak axiom of revealed non-inferiority and a weak form of maximality.It is weaker than the form of maximality characterized by the weak axiom of revealed preference. JEL classification. D0.Keywords. Weak axiom of revealed non-inferiority, Preference Maximization * Helpful comments and suggestions by Ezra Einy, Paola Manzini, Marco Mariotti, Naoki Yoshihara, an associate editor and a referee are gratefully acknowledged. This paper was partially supported by the University of Foggia (D.R. n.1378-2008, project n. 2). The usual caveat applies.