(7) This theory is based on the assumption of transitivity. Transitivity, however, refers to three- term consistency. If A is preferred to B, and В to C, then the consumer must prefer A to C. This assumption is necessary for the revealed preference theory if the consumer is to make a...
Enlarging the collective model of household behavior: A revealed preference analysis We use a comprehensive model of strategic household behaviour in which the spouses' expenditure on each public good is decomposed into autonomous spending ... d'Aspremont, Claude,RDS Ferreira - 《Economic Theory》 被...
The Theory of Weak Revealed Preference ∗Victor H. Aguiar † Per Hjertstrand ‡ Roberto Serrano §This version: May 2019Abstract We of f er a rationalization of the weak generalized axiom of revealedpreference (WGARP) for both f inite and inf inite data sets of consumer choice.We ...
DEMAND THEORYIn the present paper, we are concerned with the behavioural consequences of consumers having nontransitive preference relations. Data sets consist of finitely many observations of price vectors and consumption bundles. A preference relation rationalizes a data set provided that for every ...
The aggregate law of demand for an exchange economy can be weakened while still obtaining uniqueness, global stability, and good local comparative static p... Keenan, Donald C,T Kim - 《International Journal of Economic Theory》 被引量: 0发表: 2015年 ...
Stochastic Choice and Revealed Perturbed Utility characterizes this representation: One condition generalizes the acyclicity condition used in revealed preference theory, and the other generalizes Luce's IIA ... D Fudenberg,R Iijima,T Strzalecki - 《Working Paper》 被引量: 134发表: 1969年 Revealed ...
We investigate the strategic nature of farmers’ groundwater usage with a rich dataset from the American Midwest. We propose a new revealed preference test for the groundwater interaction as a dynamic game. We reject a view of groundwater usage decisions