Revealed preference tests under risk and uncertainty

Consider a finite data set where each observation consists of a bundle of contingent consumption chosen from a constraint set of contingent consumption bundles. We develop a general procedure for testing the consistency of such a data set with a broad class of models of choice under risk or uncertainty. Unlike previous tests, we do not require that the agent has a concave Bernoulli utility function.

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Year of publication:	2013-12
Authors:	Polisson, Matthew ; Quah, John K.-H.
Institutions:	Department of Economics, Leicester University
Subject:	expected utility \| rank dependent expected utility \| maxmin expected util- ity \| revealed preference

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Extent:	application/pdf
Series:	Discussion Papers in Economics.
Type of publication:	Book / Working Paper
Notes:	Number 13/24
Classification:	C14 - Semiparametric and Nonparametric Methods ; C60 - Mathematical Methods and Programming. General ; D11 - Consumer Economics: Theory ; D12 - Consumer Economics: Empirical Analysis ; D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010721429