Revealed preference theory for finite choice sets
| LEADER | caa a22 4500 | ||
|---|---|---|---|
| 001 | 605475806 | ||
| 003 | CHVBK | ||
| 005 | 20210128100353.0 | ||
| 007 | cr unu---uuuuu | ||
| 008 | 210128e20150501xx s 000 0 eng | ||
| 024 | 7 | 0 | |a 10.1007/s00199-014-0813-3 |2 doi |
| 035 | |a (NATIONALLICENCE)springer-10.1007/s00199-014-0813-3 | ||
| 245 | 0 | 0 | |a Revealed preference theory for finite choice sets |h [Elektronische Daten] |c [Sam Cosaert, Thomas Demuynck] |
| 520 | 3 | |a The theory of revealed preferences offers an elegant way to test the neoclassical model of utility maximization subject to a linear budget constraint. In many settings, however, the set of available consumption bundles does not take the form of a linear budget set. In this paper, we adjust the theory of revealed preferences to handle situations where the set of feasible bundles is finite. Such situations occur frequently in many real life and experimental settings. We derive the revealed preference conditions for consistency with utility maximization in this finite choice set setting. Interestingly, we find that it is necessary to make a distinction between the cases where the underlying utility function is weakly monotone, strongly monotone and/or concave. Next, we provide conditions on the structure of the finite choice sets for which the usual revealed preference condition (i.e. GARP) is still valid. We illustrate the relevance of our results by means of an illustration based on two experimental data sets that contain choice behaviour from children and young adults. | |
| 540 | |a Springer-Verlag Berlin Heidelberg, 2014 | ||
| 690 | 7 | |a Revealed preferences |2 nationallicence | |
| 690 | 7 | |a Finite choice sets |2 nationallicence | |
| 690 | 7 | |a Experimental economics |2 nationallicence | |
| 700 | 1 | |a Cosaert |D Sam |u Center for Economic Studies, University of Leuven, E. Sabbelaan 53, 8500, Kortrijk, Belgium |4 aut | |
| 700 | 1 | |a Demuynck |D Thomas |u Maastricht University, Tongersestraat 53, Maastricht, The Netherlands |4 aut | |
| 773 | 0 | |t Economic Theory |d Springer Berlin Heidelberg |g 59/1(2015-05-01), 169-200 |x 0938-2259 |q 59:1<169 |1 2015 |2 59 |o 199 | |
| 856 | 4 | 0 | |u https://doi.org/10.1007/s00199-014-0813-3 |q text/html |z Onlinezugriff via DOI |
| 898 | |a BK010053 |b XK010053 |c XK010000 | ||
| 900 | 7 | |a Metadata rights reserved |b Springer special CC-BY-NC licence |2 nationallicence | |
| 908 | |D 1 |a research-article |2 jats | ||
| 949 | |B NATIONALLICENCE |F NATIONALLICENCE |b NL-springer | ||
| 950 | |B NATIONALLICENCE |P 856 |E 40 |u https://doi.org/10.1007/s00199-014-0813-3 |q text/html |z Onlinezugriff via DOI | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Cosaert |D Sam |u Center for Economic Studies, University of Leuven, E. Sabbelaan 53, 8500, Kortrijk, Belgium |4 aut | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Demuynck |D Thomas |u Maastricht University, Tongersestraat 53, Maastricht, The Netherlands |4 aut | ||
| 950 | |B NATIONALLICENCE |P 773 |E 0- |t Economic Theory |d Springer Berlin Heidelberg |g 59/1(2015-05-01), 169-200 |x 0938-2259 |q 59:1<169 |1 2015 |2 59 |o 199 | ||