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A Representation Theorem for General Revealed Preference

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  • Mikhail Freer
  • Cesar Martinelli

Abstract

We provide a representation theorem for revealed preference of an agent whose consumption set is contained in a general topological space (separable Hausdorff space). We use this result to construct a revealed preference test that applies to choice over infinite consumption streams and probability distribution spaces, among other cases of interest in economics. In particular, we construct a revealed preference test for best-responding behavior in strategic games.

Suggested Citation

  • Mikhail Freer & Cesar Martinelli, 2018. "A Representation Theorem for General Revealed Preference," Working Papers ECARES 2018-28, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:eca:wpaper:2013/277649
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    References listed on IDEAS

    as
    1. Forges, Françoise & Minelli, Enrico, 2009. "Afriat's theorem for general budget sets," Journal of Economic Theory, Elsevier, vol. 144(1), pages 135-145, January.
    2. Chambers,Christopher P. & Echenique,Federico, 2016. "Revealed Preference Theory," Cambridge Books, Cambridge University Press, number 9781107087804, January.
    3. Victor H Aguiar & Nail Kashaev, 2021. "Stochastic Revealed Preferences with Measurement Error [Consistency between Household-level Consumption Data from Registers and Surveys]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(4), pages 2042-2093.
    4. Hiroki Nishimura & Efe A. Ok & John K.-H. Quah, 2017. "A Comprehensive Approach to Revealed Preference Theory," American Economic Review, American Economic Association, vol. 107(4), pages 1239-1263, April.
    5. Demuynck, Thomas, 2009. "A general extension result with applications to convexity, homotheticity and monotonicity," Mathematical Social Sciences, Elsevier, vol. 57(1), pages 96-109, January.
    6. 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.
    7. Victor Chernozhukov & Han Hong & Elie Tamer, 2007. "Estimation and Confidence Regions for Parameter Sets in Econometric Models," Econometrica, Econometric Society, vol. 75(5), pages 1243-1284, September.
    8. repec:dau:papers:123456789/4099 is not listed on IDEAS
    9. Castillo, Marco & Freer, Mikhail, 2018. "Revealed differences," Journal of Economic Behavior & Organization, Elsevier, vol. 145(C), pages 202-217.
    10. Francoise Forges & Enrico Minelli, 2009. "Afriat's theorem for generalized budget sets," Post-Print hal-00360726, HAL.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Revealed preference; representation theorem; preference extensions; equilibrium;
    All these keywords.

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