A Functional Approach to Revealed Preference

Mikhail Freer and Cesar Martinelli

No 2018-29, Working Papers ECARES from ULB -- Universite Libre de Bruxelles

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 preferences; preference extensions; independence; gambling independence; congruence (search for similar items in EconPapers)
Pages: 23 p.
Date: 2018-10
New Economics Papers: this item is included in nep-mic
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Working Paper: A Functional Approach to Revealed Preference (2018)
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