afriat’s theorem
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2017 ◽  
Vol 107 (4) ◽  
pp. 1239-1263 ◽  
Author(s):  
Hiroki Nishimura ◽  
Efe A. Ok ◽  
John K.-H. Quah

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)


2016 ◽  
Vol 65 ◽  
pp. 36-40 ◽  
Author(s):  
Matthew Polisson ◽  
Ludovic Renou
Keyword(s):  

2014 ◽  
Vol 54 ◽  
pp. 1-6 ◽  
Author(s):  
Françoise Forges ◽  
Vincent Iehlé

2013 ◽  
Vol 49 (6) ◽  
pp. 501-505 ◽  
Author(s):  
Alexander V. Kolesnikov ◽  
Olga V. Kudryavtseva ◽  
Tigran Nagapetyan

2013 ◽  
Vol 5 (1) ◽  
pp. 28-34 ◽  
Author(s):  
Matthew Polisson ◽  
John K.-H Quah

We show that an agent maximizing some utility function on a discrete (as opposed to continuous) consumption space will obey the generalized axiom of revealed preference (GARP), so long as the agent obeys cost efficiency. Cost efficiency will hold if there is some good, outside the set of goods being studied by the modeler, that can be consumed by the agent in continuous quantities. An application of Afriat's Theorem then guarantees that there is a strictly increasing utility function on the discrete consumption space that rationalizes price and demand observations. (JEL D11)


2013 ◽  
Author(s):  
Francoise Forges ◽  
Vincent Iehlé

2013 ◽  
Author(s):  
Olga Vladimirovna Kudryavtseva ◽  
Alexander Viktorovich Kolesnikov ◽  
Tigran Nagapetyan

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