New developments in revealed preference theory: decisions under risk, uncertainty, and intertemporal choice

• Tác giả: Federico Echenique
• Ngôn ngữ: eng
• Ký hiệu phân loại: 003.56 Decision theory
• Thông tin xuất bản: 2019
• Bộ sưu tập: Báo, Tạp chí
• ID: 163245

Tóm tắt

 This survey reviews recent developments in revealed preference theory. It discusses the testable implications of theories of choice that are germane to specific economic environments. The focus is on expected utility in risky environments
  subjected expected utility and maxmin expected utility in the presence of uncertainty
  and exponentially discounted utility for intertemporal choice. The testable implications of these theories for data on choice from classical linear budget sets are described, and shown to follow a common thread. The theories all imply an inverse relation between prices and quantities, with different qualifications depending on the functional forms in the theory under consideration.