Arbeitspapier
Afriat's theorem for general budget sets
Afriat (1967) showed the equivalence of the strong axiom of revealed preference and the existence of a solution to a set of linear inequalities. From this solution he constructed a utility function rationalizing the choices of a competitive consumer. We extend Afriat's theorem to a class of nonlinear budget sets. We thereby obtain testable implications of rational behavior for a wide class of economic environments, and a constructive method to derive individual preferences from observed choices. In an application to market games, we identify a set of observable restrictions characterizing Nash equilibrium outcomes.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 1703
- Klassifikation
-
Wirtschaft
Consumer Economics: Theory
Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection
Noncooperative Games
- Thema
-
Nutzenfunktion
Offenbarte Präferenzen
Budgetrestriktion
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Forges, Françoise
Minelli, Enrico
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2006
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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Objekttyp
- Arbeitspapier
Beteiligte
- Forges, Françoise
- Minelli, Enrico
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2006
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