Preference Characterisation and Indirect Allais Coefficients

Fred Schroyen

Annals of Economics and Statistics, 1997, issue 48, 253-273

Abstract: In this paper, I propose a new way of characterising the consumer's preferences. It is based on the Hessian of the indirect utility function, after this matrix has been purified form its cardinality by means of a procedure suggested by Allais (1943). The properties of this matrix are investigated, and the indirect Allais classification of commodity interactions is compared with more standard classification rules, both theoretically and empirically.

Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:1997:i:48:p:253-273

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