Supermodularizability *
نویسنده
چکیده
We study the ordinal content of assuming supermodularity, including conditions under which a binary relation can be represented by a supermodular function. When applied to revealed-preference relations, our results imply that supermodularity is some times not refutable: Choices on consumption at different prices can be rationalized with a supermodular utility if they can be rationalized. Hence, supermodularity of utility has no testable implications for consumer behavior. We investigate the refutability of supermodularity in different contexts: assortative matching, decision under uncertainty, and production technologies.
منابع مشابه
Division of the Humanities and Social Sciences California Institute of Technology Pasadena, California 91125 Supermodularizability
We study the ordinal content of assuming supermodularity, including conditions under which a binary relation can be represented by a supermodular function. When applied to revealed-preference relations, our results imply that supermodularity is some times not refutable: A consumer’s choices can be rationalized with a supermodular utility function if they can be rationalized with a monotonic uti...
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