scholarly journals London Patient Choice Project Evaluation: A model of patients’ choices of hospital from stated and revealed preference choice data

10.7249/tr230 ◽  
2005 ◽  
Author(s):  
Peter Burge ◽  
Nancy Devlin ◽  
John Appleby ◽  
Charlene Rohr ◽  
Jonathan Grant
Keyword(s):  
Revealed Preference ◽  
Project Evaluation ◽  
Patient Choice ◽  
Choice Data

Choosing Your Pond: Location Choices and Relative Income

2020 ◽  
pp. 1-46 ◽  
Author(s):  
Nicolas L. Bottan ◽  
Ricardo Perez-Truglia
Keyword(s):  
Medical Students ◽  
Field Experiment ◽  
Survey Data ◽  
Revealed Preference ◽  
Information Provision ◽  
Relative Income ◽  
Choice Data ◽  
Location Choices ◽  
Income Distributions ◽  
Data Survey

Do individuals care about their relative income? While this is a long-standing hypothesis, revealed-preference evidence remains elusive. We provide a unique test by studying residential choices: individuals often must choose between places with different income distributions, and as a result they “choose” their relative income. We conducted a field experiment with 1,080 senior medical students who participated in the National Resident Matching Program. We estimate their preferences by combining choice data, survey data on perceptions and information-provision experiments. The evidence suggests that individuals care about their relative income and that these preferences differ across single and non-single individuals.

scholarly journals A Comprehensive Approach to Revealed Preference Theory

2017 ◽  
Vol 107 (4) ◽  
pp. 1239-1263 ◽  
Author(s):  
Hiroki Nishimura ◽  
Efe A. Ok ◽  
John K.-H. Quah
Keyword(s):  
Euclidean Space ◽  
Utility Function ◽  
Revealed Preference ◽  
Consumer Theory ◽  
Choice Data ◽  
Preference Theory ◽  
Positive Orthant ◽  
Intertemporal Consumption ◽  
Afriat’S Theorem ◽  
Revealed Preference Theory

We develop a version of Afriat's theorem that is applicable in a variety of choice environments beyond the setting of classical consumer theory. This allows us to devise tests for rationalizability in environments where the set of alternatives is not the positive orthant of a Euclidean space and where the rationalizing utility function is required to satisfy properties appropriate to that environment. We show that our results are applicable, amongst others, to choice data on lotteries, contingent consumption, and intertemporal consumption. (JEL D11, D81)

scholarly journals The Problems of Testing Preference Axioms with Revealed Preference Theory

2004 ◽  
Vol 26 (2) ◽  
Author(s):  
Till Grüne
Keyword(s):  
Revealed Preference ◽  
Test Results ◽  
Choice Data ◽  
Preference Theory ◽  
Laboratory Conditions ◽  
Revealed Preference Theory

AbstractIn economics, it has often been claimed that testing choice data for violation of certain axioms-particularly if the choice data is observed under laboratory conditions-allows conclusions about the validity of certain preference axioms and the neoclassical maximization hypothesis. In this paper I argue that these conclusions are unfounded. In particular, it is unclear what exactly is tested, and the interpretation of the test results are ambiguous. Further, there are plausible reasons why the postulated choice axioms should not hold. Last, these tests make implicit assumptions about beliefs that further blur the interpretations of the results. The tests therefore say little if anything about the validity of certain preference axioms or the maximization hypothesis.

scholarly journals Revealed Preference, Rational Inattention, and Costly Information Acquisition

2015 ◽  
Vol 105 (7) ◽  
pp. 2183-2203 ◽  
Author(s):  
Andrew Caplin ◽  
Mark Dean
Keyword(s):  
General Model ◽  
Information Acquisition ◽  
Revealed Preference ◽  
Preference Test ◽  
Information Costs ◽  
Choice Data ◽  
Rational Inattention ◽  
Costly Information ◽  
Trade Off ◽  
Expected Benefits

Apparently mistaken decisions are ubiquitous. To what extent does this reflect irrationality, as opposed to a rational trade-off between the costs of information acquisition and the expected benefits of learning? We develop a revealed preference test that characterizes all patterns of choice “mistakes” consistent with a general model of optimal costly information acquisition and identify the extent to which information costs can be recovered from choice data. (JEL D11, D81, D83)

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