2. The rule of choice Weak axiom of revealed Preference WarP or Wa):fx∈C(B) or certain∈B, andx,y∈ B for B'∈andx,y∈B,y∈C(B) then must x∈C(B) Revealed Preference“%*” x%”y台3B∈B,3x,y∈ B and x∈C(B) lecture for Chu Kechen Honors Collegelecture4 for Chu Kechen Honors College 2.The rule of choice ➢ Weak Axiom of Revealed Preference (WARP or WA) : if for certain , and for and , then must ➢ Revealed Preference “ ”: BB x y B ,  x C B  ( ) BB x y B ,   y C B  ( ) x C B  ( )  % x y B x y B x C B , , ,and ( ) %        B