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Note on symmetric utility

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  • Chambers, Christopher P.
  • Rehbeck, John

Abstract

This note studies necessary and sufficient conditions for consumer demand data to be generated by a symmetric utility function. We find that a dataset of prices and consumption decisions can be rationalized by a symmetric utility function if and only if the symmetrized dataset satisfies the generalized axiom of revealed preference.

Suggested Citation

  • Chambers, Christopher P. & Rehbeck, John, 2018. "Note on symmetric utility," Economics Letters, Elsevier, vol. 162(C), pages 27-29.
    • Handle: RePEc:eee:ecolet:v:162:y:2018:i:c:p:27-29
    DOI: 10.1016/j.econlet.2017.10.012
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    References listed on IDEAS

    as
    1. Varian, Hal R, 1982. "The Nonparametric Approach to Demand Analysis," Econometrica, Econometric Society, vol. 50(4), pages 945-973, July.
    2. Chambers,Christopher P. & Echenique,Federico, 2016. "Revealed Preference Theory," Cambridge Books, Cambridge University Press, number 9781107087804, September.
    3. Hal R. Varian, 1983. "Non-parametric Tests of Consumer Behaviour," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 50(1), pages 99-110.
    4. Donald J. Brown & Caterina Calsamiglia, 2008. "The Nonparametric Approach to Applied Welfare Analysis," Lecture Notes in Economics and Mathematical Systems, in: Computational Aspects of General Equilibrium Theory, pages 41-46, Springer.
    5. Drew Fudenberg & Ryota Iijima & Tomasz Strzalecki, 2015. "Stochastic Choice and Revealed Perturbed Utility," Econometrica, Econometric Society, vol. 83, pages 2371-2409, November.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Symmetric utility; Revealed preference; Demand;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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