A revealed preference test for weakly separable preferences.
Consider a finite data set of price vectors and consumption bundles; under what conditions will there be a weakly separable utlity function that rationalizes the data? This paper shows that rationalization in this sense is possible if and only if there exists a preference order on some finite set o...
| Main Author: | |
|---|---|
| Format: | Working paper |
| Language: | English |
| Published: |
Department of Economics (University of Oxford)
2012
|
| _version_ | 1797102081882980352 |
|---|---|
| author | Quah, J |
| author_facet | Quah, J |
| author_sort | Quah, J |
| collection | OXFORD |
| description | Consider a finite data set of price vectors and consumption bundles; under what conditions will there be a weakly separable utlity function that rationalizes the data? This paper shows that rationalization in this sense is possible if and only if there exists a preference order on some finite set of consumption bundles that is consistent with the observations and that is weakly separable. Since there can only be a finite number of preference orders on this set, the problem of rationalization with a weakly separable utility function is solvable. |
| first_indexed | 2024-03-07T06:00:49Z |
| format | Working paper |
| id | oxford-uuid:ec1f1298-27c7-4291-a003-0196901af4d6 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T06:00:49Z |
| publishDate | 2012 |
| publisher | Department of Economics (University of Oxford) |
| record_format | dspace |
| spelling | oxford-uuid:ec1f1298-27c7-4291-a003-0196901af4d62022-03-27T11:15:02ZA revealed preference test for weakly separable preferences.Working paperhttp://purl.org/coar/resource_type/c_8042uuid:ec1f1298-27c7-4291-a003-0196901af4d6EnglishDepartment of Economics - ePrintsDepartment of Economics (University of Oxford)2012Quah, JConsider a finite data set of price vectors and consumption bundles; under what conditions will there be a weakly separable utlity function that rationalizes the data? This paper shows that rationalization in this sense is possible if and only if there exists a preference order on some finite set of consumption bundles that is consistent with the observations and that is weakly separable. Since there can only be a finite number of preference orders on this set, the problem of rationalization with a weakly separable utility function is solvable. |
| spellingShingle | Quah, J A revealed preference test for weakly separable preferences. |
| title | A revealed preference test for weakly separable preferences. |
| title_full | A revealed preference test for weakly separable preferences. |
| title_fullStr | A revealed preference test for weakly separable preferences. |
| title_full_unstemmed | A revealed preference test for weakly separable preferences. |
| title_short | A revealed preference test for weakly separable preferences. |
| title_sort | revealed preference test for weakly separable preferences |
| work_keys_str_mv | AT quahj arevealedpreferencetestforweaklyseparablepreferences AT quahj revealedpreferencetestforweaklyseparablepreferences |