On Testing the Utility Hypothesis
AbstractIn order to be able to conduct a test of the (core) utility hypothesis that is not confounded with tests of (subsidiary) hypotheses that economic agents all have the same preferences and that their preferences are weakly separable, it is necessary to use data that are disaggregated and complete. In order to carry out a utility hypothesis test with complete data, revealed preference theory must first be extended. The generalized axiom of revealed preference is extended to include labor supply and portfolio choice. Then a complete, disaggregated data set is used to test the utility hypothesis and two preference separability hypotheses. Copyright 1997 by Royal Economic Society.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Royal Economic Society in its journal The Economic Journal.
Volume (Year): 107 (1997)
Issue (Month): 443 (July)
Contact details of provider:
Postal: Office of the Secretary-General, School of Economics and Finance, University of St. Andrews, St. Andrews, Fife, KY16 9AL, UK
Phone: +44 1334 462479
Web page: http://www.res.org.uk/
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Raymond Fisman & Shachar Kariv & Daniel Markovits, 2005. "Individual Preferences for Giving," Game Theory and Information 0504007, EconWPA.
- Philippe FÃ©vrier & Michael Visser, 2004.
"A Study of Consumer Behavior Using Laboratory Data,"
Springer, vol. 7(1), pages 93-114, February.
- Philippe Fevrier & Michael Visser, 2000. "A Study of Consumer Behavior Using Laboratory Data," Econometric Society World Congress 2000 Contributed Papers 1095, Econometric Society.
- Philippe Février & Michael Visser, 2000. "AStudyof Consumer Behavior Using Laboratory Data," Working Papers 2000-12, Centre de Recherche en Economie et Statistique.
- Steven Gjerstad, 2004. "Market Dynamics in Edgeworth Exchange," Microeconomics 0401006, EconWPA.
- James Andreoni & William Harbaugh, 2005.
"Power Indicies for Revealed Preference Tests,"
784828000000000181, UCLA Department of Economics.
- Steven Gjerstad, 2007.
"Price Dynamics in an Exchange Economy,"
Purdue University Economics Working Papers
1205, Purdue University, Department of Economics.
- David Dickinson, 2000. "Ultimatum decision-making: A test of reciprocal kindness," Theory and Decision, Springer, vol. 48(2), pages 151-177, March.
- Laurens Cherchye & Frederic Vermeulen, 2008.
"Nonparametric Analysis of Household Labor Supply: Goodness of Fit and Power of the Unitary and the Collective Model,"
The Review of Economics and Statistics,
MIT Press, vol. 90(2), pages 267-274, May.
- Laurens Cherchye & Frederic Vermeulen, 2003. "Nonparametric Analysis of Household Labour Supply: Goodness-of-Fit and Power of the Unitary and the Collective Model," Public Economics Working Paper Series ces0302, Katholieke Universiteit Leuven, Centrum voor Economische Studiën, Working Group Public Economics.
- Cherchye, Laurens & Vermeulen, Frederic, 2006. "Nonparametric Analysis of Household Labor Supply: Goodness-of-Fit and Power of the Unitary and the Collective Model," IZA Discussion Papers 2004, Institute for the Study of Labor (IZA).
- Cherchye, L.J.H. & Vermeulen, F.M.P., 2006. "Nonparametric Analysis of Household Labor Supply: Goodness-of-Fit and Power of the Unitary and the Collective Model," Discussion Paper 2006-13, Tilburg University, Center for Economic Research.
- Ray Fisman & Shachar Kariv & Daniel Markovits, 2006. "Individual Preferences for Giving," Levine's Bibliography 666156000000000468, UCLA Department of Economics.
- Samiran Banerjee & James Murphy, 2006. "A simplified test for preference rationality of two-commodity choice," Experimental Economics, Springer, vol. 9(1), pages 67-75, April.
- Jan Heufer, 2013. "Testing revealed preferences for homotheticity with two-good experiments," Experimental Economics, Springer, vol. 16(1), pages 114-124, March.
- James Andreoni & John Miller, 2002. "Giving According to GARP: An Experimental Test of the Consistency of Preferences for Altruism," Econometrica, Econometric Society, vol. 70(2), pages 737-753, March.
- Alkire, Sabina, 2002. "Dimensions of Human Development," World Development, Elsevier, vol. 30(2), pages 181-205, February.
- Syngjoo Choi & Raymond Fisman & Douglas Gale & Shachar Kariv, 2007. "Substantive and Procedural Rationality in Decisions under Uncertainty," Levine's Bibliography 122247000000000946, UCLA Department of Economics.
- Shomu Banerjee & James H. Murphy, 2004. "A Simplified Test for Preference Rationality of Two-commodity Choice," Emory Economics 0421, Department of Economics, Emory University (Atlanta).
- James C. Cox, 2009. "Some Issues of Methods, Theories, and Experimental Designs," Experimental Economics Center Working Paper Series 2009-02, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University.
- Jens Hougaard & Tue Tjur & Lars Østerdal, 2012. "On the meaningfulness of testing preference axioms in stated preference discrete choice experiments," The European Journal of Health Economics, Springer, vol. 13(4), pages 409-417, August.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.