Identification of preferences, demand and equilibrium with finite data

Felix Kubler, Raghav Malhotra and Herakles Polemarchakis
Additional contact information
Herakles Polemarchakis: University of Warwick

The Warwick Economics Research Paper Series (TWERPS) from University of Warwick, Department of Economics

Abstract: We give conditions under which an individual's preferences can be identified with finite data. First, we derive conditions that guarantee that a finite number of observations of an individual's binary choices identify preferences over an arbitrarily large subset of the choice space and allow one to predict how the individual shall decide when faced with choices not previously encountered. Second, we extend the argument to observations of individual demand. Finally, we show that nitely many observations of Walrasian equilibrium prices and pro les of individual endowments suffice to identify individual preferences and, as a consequence, equilibrium comparative statics.

Keywords: identification; finite data; preferences; choices; demand; Walrasian equilibrium JEL codes: D80; G10 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://warwick.ac.uk/fac/soc/economics/research/w ... _-_polemarchakis.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wrk:warwec:1290

Access Statistics for this paper

More papers in The Warwick Economics Research Paper Series (TWERPS) from University of Warwick, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Margaret Nash ().