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Logic of Choice and Economic Theory$
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S. N. Afriat

Print publication date: 1987

Print ISBN-13: 9780198284611

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198284616.001.0001

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Opportunity Models

Opportunity Models

(p.257) IV.1 Opportunity Models
Logic of Choice and Economic Theory

S. N. Afriat

Oxford University Press

This is the first of six chapters on the logic of price. Choice presupposes opportunity, and this chapter gives some account of that side of economic models. The four sections of the chapter are: the production function; general input–output; von Neumann's activity system; and axiomatics of Koopmans's (activity) system. Von Neumann's activity system is further discussed in the last chapter of Part IV (IV.6) as von Neumann's economic model.

Keywords:   choice, economic models, input–output, Koopmans's activity system, opportunity models, price, production function, von Neumann's activity system, von Neumann's model

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