Division of the Humanities and Social Sciences California Institute of Technology Pasadena, California 91125 Supermodularizability
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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: A consumer’s choices can be rationalized with a supermodular utility function if they can be rationalized with a monotonic utility function. Hence, supermodularity is not empirically distinguishable from monotonicity. We present applications to assortative matching, decision under uncertainty, and to testing production technologies. JEL classification numbers: D11,D24,C78
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Peter Sokol-Hessner, Colin F. Camerer, and Elizabeth A. Phelps Division of the Humanities and Social Sciences (HSS), California Institute of Technology, Division of the Humanities and Social Sciences (HSS) and Computational and Neural Systems (CNS), California Institute of Technology, 1200 E. California Blvd., Pasadena, CA 91125, USA, and Department of Psychology, New York University, 6 Washing...
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