Identification of preferences, demand and equilibrium with finite data

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

CRETA Online Discussion Paper Series from Centre for Research in Economic Theory and its Applications CRETA

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-ore and nep-upt
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Citations: View citations in EconPapers (2)

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Working Paper: Identification of preferences, demand and equilibrium with finite data (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:wrk:wcreta:60

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