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Persistent link: https://www.econbiz.de/10012097960
We study preferences estimated from finite choice experiments and provide sufficient conditions for convergence to a unique underlying “true” preference. Our conditions are weak and, therefore, valid in a wide range of economic environments. We develop applications to expected utility...
Persistent link: https://www.econbiz.de/10012637173
We show in an environment of incomplete information that monotonicity and the Pareto property applied only when there is common knowledge of Pareto dominance imply (i) there must exist a common prior over the smallest common knowledge event, and (ii) aggregation must be ex ante and ex post...
Persistent link: https://www.econbiz.de/10010795635