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A Functional Approach to Revealed Preference

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  • Mikhail Freer
  • Cesar Martinelli

Abstract

We develop a systematic, functional approach to revealed preference tests based on completing preferences. Our approach is based on the notion of sequential closure, which generalizes the notion of transitive closure. We show that revealed preference tests developed for various decision theories can be seen as special cases of our approach. We also illustrate the approach constructing revealed preference tests for theories of decision under uncertainty whose revealed preference implications had not been studied before.

Suggested Citation

  • Mikhail Freer & Cesar Martinelli, 2018. "A Functional Approach to Revealed Preference," Working Papers ECARES 2018-29, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:eca:wpaper:2013/277651
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    References listed on IDEAS

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    Keywords

    Revealed preferences; preference extensions; independence; gambling independence; congruence;
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