Recovering Preferences From Finite Data

Christopher Chambers, Federico Echenique and Nicolas Lambert

Econometrica, 2021, vol. 89, issue 4, 1633-1664

Abstract: We study preferences estimated from finite choice experiments and provide sufficient conditions for convergence to a unique underlying “true” preference. Our conditions are weak and, therefore, valid in a wide range of economic environments. We develop applications to expected utility theory, choice over consumption bundles, and menu choice. Our framework unifies the revealed preference tradition with models that allow for errors.

Date: 2021
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Citations: View citations in EconPapers (4)

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https://doi.org/10.3982/ECTA17845

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Working Paper: Recovering Preferences from Finite Data (2020)
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