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preferences Rational constraints. ey ob must agent rational a of references p Idea: ⇒ references p Rational y utilit ected exp of maximization as describable r ehavio b Constraints: y Orderabilit ) B ∼ A( ∨) A B( ∨) B A( y ransitivit T ) C A( ⇒) C B( ∧) B A( y Continuit B ∼] C p, −1 ; A p, [ p ∃ ⇒ C B A y Substitutabilit ] C p, −1; B p, [ ∼] C p, −1 ; A p, [ ⇒ B ∼ A y Monotonicit ] B p, −1 ; A p, [ ⇔q ≥p( ⇒ B A ]) B, q −1 ; A, q[ ∼ 4 16 Chapter
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