  We offer a rationalization of the weak generalized axiom of revealed
preference (WGARP) for both finite and infinite data sets of consumer choice.
We call it maximin rationalization, in which each pairwise choice is associated
with a "local" utility function. We develop its associated weak
revealed-preference theory. We show that preference recoverability and welfare
analysis \`a la Varian (1982) may not be informative enough, when the weak
axiom holds, but when consumers are not utility maximizers. We clarify the
reasons for this failure and provide new informative bounds for the consumer's
true preferences.
