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the experiment. Hence for so-called induced budget experiments the Generalized Axiom of Revealed Preference is a necessary …
Persistent link: https://www.econbiz.de/10011563010
It is shown how to test revealed preference data on choices under uncertainty for consistency with first and second order stochastic dominance (FSD or SSD). The axiom derived for SSD is a necessary and sufficient condition for risk aversion. If an investor is risk averse, stochastic dominance...
Persistent link: https://www.econbiz.de/10014175928
laboratory experiment. -- Afriat’s theorem ; deterministic preferences ; decisions under risk ; experimental economcics … der Nutzenfunktion im Beweis des Theorems von Afriat konstruiert werden. Der Ansatz ist relevant für die Untersuchung von …
Persistent link: https://www.econbiz.de/10003950963
Persistent link: https://www.econbiz.de/10013144587
Using a revealed preference approach, we conduct an experiment where subjects make choices from linear convex budgets …
Persistent link: https://www.econbiz.de/10012840794
theory and recent empirical applications. The main purpose is exposition, not criticism, but Chambers and Echenique …
Persistent link: https://www.econbiz.de/10012946546
We present a survey design that generalizes static conjoint experiments to elicit inter-temporal adoption decisions for durable goods. We show that consumers' utility and discount functions in a dynamic discrete choice model are jointly identified using data generated by this specific design. In...
Persistent link: https://www.econbiz.de/10013065497
We propose 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. It can also be used...
Persistent link: https://www.econbiz.de/10011773009
We propose 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. It can also be used...
Persistent link: https://www.econbiz.de/10011754165
This paper shows how revealed preference relations, observed under general budget sets, can be extended using closure operators which impose certain assumptions on preferences. Common extensions are based on the assumption that preferences are convex and/or monotonic, but we also consider...
Persistent link: https://www.econbiz.de/10014171225