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Afriat in the lab
Heufer, Jan; Bruggen, Paul van - 2016
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
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Quasiconcave preferences and choices on a probability simplex : a nonparametric analysis
Heufer, Jan - 2010
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
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Homothetic preferences revealed
Heufer, Jan; Hjertstrand, Per - 2017
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
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Homothetic preferences revealed
Heufer, Jan; Hjertstrand, Per - 2017
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
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Revealed Preference and Nonparametric Analysis – Continuous Extensions and Recoverability
Heufer, Jan - 2012
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
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Measuring tastes for equity and aggregate wealth behind the veil of ignorance
Heufer, Jan; Shachat, Jason M.; Xu, Yan - 2018
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
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Stochastic dominance and nonparametric comparative revealed risk aversion
Heufer, Jan - 2011
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/10009580236
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Revealed notions of distributive justice II : experimental evidence
Becker, Nicole; Häger, Kirsten; Heufer, Jan - 2013
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 … Agreement and Symmetry axioms proposed in BHH; we find that for 80% of participants the evidence is very strong. The experiment …
Persistent link: https://www.econbiz.de/10010192931
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Revealed notions of distributive justice II : experimental evidence
Becker, Nicole; Häger, Kirsten; Heufer, Jan - 2013
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 … Agreement and Symmetry axioms proposed in BHH; we find that for 80% of participants the evidence is very strong. The experiment …
Persistent link: https://www.econbiz.de/10010370990
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Two New Proofs of Afriat's Theorem
Fostel, Ana; Scarf, Herbert E.; Todd, Michael - 2009
We provide two new, simple proofs of Afriat's celebrated theorem stating that a finite set of price-quantity observations is consistent with utility maximization if, and only if, the observations satisfy a variation of the Strong Axiom of Revealed Preference known as the Generalized Axiom of...
Persistent link: https://www.econbiz.de/10014211274