Afriat from maxmin created by John D. Geanakoplos

By:

Geanakoplos, John D [author]

Material type: Text

TextSeries: Economic theory ; Volume 54, number 3Berlin: Springer, 2013Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

0938229

Subject(s):

Afriat's Theorem -- Revealed preference -- GARP

LOC classification:

HB119 ECO

Online resources:

Click here to access online

Abstract: Afriat’s Theorem brilliantly characterizes the observable implications of utility maximization. Consider a finite set of observable price-consumption data {(p 1 , x1 ), ...,(p n, xn)}. What are the testable implications of the hypothesis that all the consumption bundles x i were chosen by maximizing the same unobservable utility function u over budget constraints determined by the corresponding prices p i ?

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Holdings
Item type	Current library	Call number	Vol info	Copy number	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HB119 ECO (Browse shelf(Opens below))	Vol. 54 no.4 (pages 443-448)	SP21289	Not for loan	For In House Use Only

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Afriat’s Theorem brilliantly characterizes the observable implications of utility maximization. Consider a finite set of observable price-consumption data {(p 1 , x1 ), ...,(p n, xn)}. What are the testable implications of the hypothesis that all the consumption bundles x i were chosen by maximizing the same unobservable utility function u over budget constraints determined by the corresponding prices p i ?

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