he weak axiom of revealed preference (WARP) states that if a consumer chooses bundle A over bundle B when both are affordable, the consumer should never choose B over A in any future situation where both are again affordable. This is a formal way of ensuring consistency in observed choices: consumers should not reverse their revealed preferences unless circumstances (affordability) have changed

Revealed Preference in Economics: What Does It Show? Introduction Revealed preference theory is a landmark economic theory proposed by...

Revealed Preference: Theory, Applications, and Graphical Explanation Definition and Core Idea Revealed preference is an economic theory...