Showing 151 - 160 of 185
We propose an axiom that we call Agreement to deal with changing preferences and derive its empirical implications. The resulting revealed preference condition generalises GARP when preferences are different but preferences in one context are informative about preferences in another context. We...
Persistent link: https://www.econbiz.de/10013245896
Using household travel diary data collected in Germany between 1997 and 2012, we employ an instrumental variable (IV) approach to estimate fuel price and efficiency elasticities. The aim is to gauge the relative impacts of fuel economy standards and fuel taxes on distance traveled. We find that...
Persistent link: https://www.econbiz.de/10010192927
We report the results of a combination of a dictator experiment with either a “social planner” or a “veil of ignorance” experiment. The experimental design and the analysis of the data are based on the theoretical framework proposed in the companion paper by Becker, Häger, and Heufer...
Persistent link: https://www.econbiz.de/10010192931
We provide a framework to decompose preferences into a notion of distributive justice and a selfishness part and to recover individual notions of distributive justice from data collected in appropriately designed experiments. “Dictator games” with varying transfer rates used in Andreoni and...
Persistent link: https://www.econbiz.de/10010192945
We propose an instrument to measure individuals' social preferences regarding equity and efficiency behind a veil of ignorance. We pair portfolio and wealth distribution choice problems which have a common budget set. For a given bundle, the distribution over an individual's wealth is the same...
Persistent link: https://www.econbiz.de/10011928322
Persistent link: https://www.econbiz.de/10011747980
It is shown that a fundamental question of revealed preference theory, namely whether the weak axiom of revealed preference (WARP) implies the strong axiom of revealed preference (SARP), can be reduced to a Hamiltonian cycle problem: A set of bundles allows a preference cycle of irreducible...
Persistent link: https://www.econbiz.de/10010988776
We provide an efficient way to generate random choices which are consistent with utility maximisation. They are drawn from an approximate uniform distribution on the admissible region on each budget based on a Markovian Monte Carlo algorithm due to Smith (Oper Res 32(6):1296–1308, <CitationRef CitationID="CR11">1984</CitationRef>). This...</citationref>
Persistent link: https://www.econbiz.de/10010989266
We provide a framework to decompose preferences into a notion of distributive justice and a selfishness part and to recover individual notions of distributive justice from data collected in appropriately designed experiments. "Dictator games" with varying transfer rates used in Andreoni and...
Persistent link: https://www.econbiz.de/10010884470
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/10010540947