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Revealed cardinal preference [PDF]
Economic Theory Bulletin, 2012 I prove that as long as we allow the marginal utility for money (lambda) to vary between purchases (similarly to the budget) then the quasi-linear and the ordinal budget-constrained models rationalize the same data.
A Fostel +12 more
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How revealing is revealed preference? [PDF]
Journal of the European Economic Association, 2005 This lecture address the following two key criticisms of the empirical application of revealed preference theory: When the RP conditions do not reject, they do not provide precise predictions; and when they do reject, they do not help characterize the ...
Blundell, R.
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Orbitofrontal signals for two-component choice options comply with indifference curves of Revealed Preference Theory [PDF]
Nature Communications, 2019 Recording from monkey orbitofrontal cortex, the authors used composite reward bundles and found individual neuron and population responses that were suitable for economic choice.
Alexandre Pastor-Bernier +2 more
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Correcting for Random Budgets in Revealed Preference Experiments
Games, 2022 Experiments on revealed preference often use budget sets that are randomly and independently drawn according to some criteria for each participant. However, this means that the budget sets faced by different individuals are not the same.
Mir Adnan Mahmood, John Rehbeck
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Impressionable Rational Choice: Revealed-Preference Theory with Framing Effects
Mathematics, 2022 Revealed preference is one of the most influential ideas in economics. It is, however, not clear how it can be generally applied in cases where agents’ choices depend on arbitrary changes in the decision environment.
Guy Barokas, Burak Ünveren
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Aggregate Bound Choices about Random and Nonrandom Goods Studied via a Nonlinear Analysis
Mathematics, 2023 In this paper, bound choices are made after summarizing a finite number of alternatives. This means that each choice is always the barycenter of masses distributed over a finite set of alternatives. More than two marginal goods at a time are not handled.
Fabrizio Maturo, Pierpaolo Angelini
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Homothetic Preferences Revealed [PDF]
SSRN Electronic Journal, 2017 We introduce a method to recover homothetic preferences from choice data with minor optimization or measurement errors. Our method allows for a more detailed graphical analysis to reveal subjects’ preferences and to choose appropriate functional forms for parametric analysis.
Heufer, Jan, Hjertstrand, Per
openaire +4 more sources
Influence of memory processes on choice-consistency
Royal Society Open Science, 2021 Choice-consistency is considered a hallmark of rational value-based choice. However, because the cognitive apparatus supporting decision-making is imperfect, real decision-makers often show some degree of choice inconsistency.
Felix J. Nitsch, Tobias Kalenscher
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Empirical Revealed Preference [PDF]
Annual Review of Economics, 2014 This article aims to provide an introduction to empirical revealed preference (RP) and an overview of the current state of the field. We hope to give a sense of how RP methods work and the types of questions they can address and to assess the strengths and drawbacks of the approach.
Crawford, Ian, De Rock, Bram
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Mainstreaming biodiversity into policy–Do the numbers add-up?
Environmental and Sustainability Indicators, 2023 In this paper, we review the literature on economic approaches to providing value estimates of biodiversity. In most cases, the value estimates represent a lower estimate for a multitude of reasons, emanating from the complexity of definition and ...
Kavita Sardana, R. David Simpson
doaj +1 more source