Revealed Preference Theory
نویسندگان
چکیده
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 tied up with econometrics (especially nonparametric econometrics), where testing the validity of different theoretical models is an important aspect of research. The theory of revealed preference has a very long and distinguished tradition in economics, but until now there has been no systematic presentation of the theory. This book deals with basic questions in economic theory, such as the relation between theory and data, and studies the situations in which empirical observations are consistent or inconsistent with some of the best-known theories in economics.
منابع مشابه
Forthcoming in Theoretical Economics. GENERAL REVEALED PREFERENCE THEORY
We generalize the standard revealed-preference exercise in economics, and prove a sufficient condition under which the revealed-preference formulation of an economic theory has universal implications, and when these implications can be recursively enumerated. We apply our theorem to two theories of group behavior: the theory of group preference and of Nash equilibrium.
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