Revealed Preference, Afriat’s Theorem, and Falsifiability: A Review Essay on Revealed Preference Theory by Chr
نویسندگان
چکیده
منابع مشابه
General revealed preference theory
We provide general conditions under which an economic theory has a universal axiomatization: one that leads to testable implications. Roughly speaking, if we obtain a universal axiomatization when we assume that unobservable parameters (such as preferences) are observable, then we can obtain a universal axiomatization purely on observables. The result “explains” classical revealed preference th...
متن کاملRevealed Preference Theory
Pioneered by American economist Paul Samuelson, revealed preference theory is based on the idea that the preferences of consumers are revealed in their purchasing behavior. Researchers in this field have developed complex and sophisticated mathematical models to capture the preferences that are “revealed” through consumer choice behavior. This study of consumer demand and behavior is closely ti...
متن کاملA Representation Theorem for General Revealed Preference
Following Richter (1966), we provide criteria under which a preference relation implied by a finite set of choice observations has a complete extension that can in turn be represented by a utility function. These criteria rely on a mapping over preference relations, the rational closure, which is a generalization of the transitive closure and is employed to construct the complete extension. We ...
متن کاملRevealed Preference in Game Theory
I characterize joint choice behavior generated by the pure strategy Nash equilibrium solution concept by an extension of the Congruence Axiom of Richter(1966) to multiple agents. At the same time, I relax the “complete domain” assumption of Yanovskaya(1980) and Sprumont(2000) to “closed domain.” Without any restrictions on the domain of the choice correspondence, determining pure strategy Nash ...
متن کاملOn Revealed Preference Analysis
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ژورنال
عنوان ژورنال: OEconomia
سال: 2017
ISSN: 2113-5207,2269-8450
DOI: 10.4000/oeconomia.2742