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General revealed preference theory

Author

Listed:
  • Chambers, Christopher P.

    (Department of Economics, University of California, San Diego)

  • Echenique, Federico

    (Division of the Humanities and Social Sciences, California Institute of Technology)

  • Shmaya, Eran

    (School of Mathematics, Tel Aviv University)

Abstract

We generalize the standard revealed-preference exercise in economics, and prove a sufficient condition under which the revealed-preference formulation of an economic theory has universal implications, and when these implications can be recursively enumerated. We apply our theorem to two theories of group behavior: the theory of group preference and of Nash equilibrium.

Suggested Citation

  • Chambers, Christopher P. & Echenique, Federico & Shmaya, Eran, 2017. "General revealed preference theory," Theoretical Economics, Econometric Society, vol. 12(2), May.
    • Handle: RePEc:the:publsh:1924
    as

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    References listed on IDEAS

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    1. Christopher P. Chambers & Federico Echenique & Eran Shmaya, 2014. "The Axiomatic Structure of Empirical Content," American Economic Review, American Economic Association, vol. 104(8), pages 2303-2319, August.
    2. Mongin, Philippe, 1986. "Are “All-and-Some” Statements Falsifiable After All?: The Example of Utility Theory," Economics and Philosophy, Cambridge University Press, vol. 2(2), pages 185-195, October.
    3. Donald J. Brown & Rosa L. Matzkin, 2008. "Testable Restrictions on the Equilibrium Manifold," Lecture Notes in Economics and Mathematical Systems, in: Computational Aspects of General Equilibrium Theory, pages 11-25, Springer.
    4. Sprumont, Yves, 2001. "Paretian Quasi-orders: The Regular Two-Agent Case," Journal of Economic Theory, Elsevier, vol. 101(2), pages 437-456, December.
    5. Boland, Lawrence A, 1981. "On the Futility of Criticizing the Neoclassical Maximization Hypothesis," American Economic Review, American Economic Association, vol. 71(5), pages 1031-1036, December.
    6. Rajat Deb, 1976. "On Constructing Generalized Voting Paradoxes," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 43(2), pages 347-351.
    7. John Quah, 2012. "A revealed preference test for weakly separable preferences," Economics Series Working Papers 601, University of Oxford, Department of Economics.
    8. Matthew Polisson & John K.-H. Quah, 2013. "Revealed preference tests under risk and uncertainty," Discussion Papers in Economics 13/24, Division of Economics, School of Business, University of Leicester.
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    Cited by:

    1. Angelini, Pierpaolo & Maturo, Fabrizio, 2022. "The price of risk based on multilinear measures," International Review of Economics & Finance, Elsevier, vol. 81(C), pages 39-57.
    2. Pawel Dziewulski, 2021. "A comprehensive revealed preference approach to approximate utility maximisation," Working Paper Series 0621, Department of Economics, University of Sussex Business School.
    3. David J. Freeman, 2021. "Revealing Naïveté and Sophistication from Procrastination and Preproperation," American Economic Journal: Microeconomics, American Economic Association, vol. 13(2), pages 402-438, May.
    4. Eileen Tipoe & Abi Adams & Ian Crawford, 2022. "Revealed preference analysis and bounded rationality [Consume now or later? Time inconsistency, collective choice and revealed preference]," Oxford Economic Papers, Oxford University Press, vol. 74(2), pages 313-332.
    5. Federico Echenique, 2020. "New Developments in Revealed Preference Theory: Decisions Under Risk, Uncertainty, and Intertemporal Choice," Annual Review of Economics, Annual Reviews, vol. 12(1), pages 299-316, August.
    6. Galambos, Adam, 2019. "Descriptive complexity and revealed preference theory," Mathematical Social Sciences, Elsevier, vol. 101(C), pages 54-64.
    7. Fabrizio Maturo & Pierpaolo Angelini, 2023. "Aggregate Bound Choices about Random and Nonrandom Goods Studied via a Nonlinear Analysis," Mathematics, MDPI, vol. 11(11), pages 1-30, May.
    8. Daniel Müller, 2017. "The anatomy of distributional preferences with group identity," Working Papers 2017-02, Faculty of Economics and Statistics, Universität Innsbruck, revised Mar 2017.
    9. Pierpaolo Angelini & Fabrizio Maturo, 2022. "The consumer’s demand functions defined to study contingent consumption plans," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(3), pages 1159-1175, June.

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    More about this item

    Keywords

    Revealed preference theory;

    JEL classification:

    • D0 - Microeconomics - - General

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