A Functional Approach to Revealed Preference

29 Pages Posted: 21 Oct 2018

See all articles by Mikhail Freer

Mikhail Freer

KU Leuven - Department of Economics

César Martinelli

George Mason University - Interdisciplinary Center for Economic Science (ICES)

Date Written: October 21, 2018

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.

Keywords: revealed preference tests, sequential closures, monotone congruence, functional approach

JEL Classification: D01, D11

Suggested Citation

Freer, Mikhail and Martinelli, César, A Functional Approach to Revealed Preference (October 21, 2018). GMU Working Paper in Economics No. 18-31. Available at SSRN: https://ssrn.com/abstract=3270564 or http://dx.doi.org/10.2139/ssrn.3270564

Mikhail Freer

KU Leuven - Department of Economics ( email )

Leuven, B-3000
Belgium

HOME PAGE: http://https://sites.google.com/site/mikhailfreer/

César Martinelli (Contact Author)

George Mason University - Interdisciplinary Center for Economic Science (ICES) ( email )

400P Truland Building
George Mason University
Fairfax, VA 22030
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
26
Abstract Views
155
PlumX Metrics