Revealed preference analysis for convex rationalizations on nonlinear budget sets

Laurens Cherchye, Thomas Demuynck and Bram De Rock

Working Papers of Department of Economics, Leuven from KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven

Abstract: We present necessary and sufficient revealed preference conditions to verify whether a finite data set on nonlinear budget sets is consistent with the maximization of a quasi–concave utility function. Our results can be used to test for convexity of the underlying preference relation. We also show that in many settings, our conditions are easy to use in practical applications.

Date: 2012-11
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Related works:
Journal Article: Revealed preference analysis for convex rationalizations on nonlinear budget sets (2014)
Working Paper: Revealed Preference Analysis for Convex Rationalizations on Nonlinear Budget Sets (2014)
Working Paper: Revealed Preference Analysis for Convex Rationalizations on Nonlinear Budget Sets (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:ete:ceswps:ces12.15

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