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Absolute and Relative Time-Consistent Revealed Preferences

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  • Thomas Demuynck

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Abstract

We introduce an Absolute (Relative) Time-consistent Axiom of Revealed Preference which characterizes the consistency of a choice function with the property of absolute (relative) time-consistency and impatience. The axiom requires that the absolute (relative) time-consistent and impatient closure of the revealed preference relation does not conflict with the strict revealed preference relation.

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File URL: http://hdl.handle.net/10.1007/s11238-007-9081-z
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Bibliographic Info

Article provided by Springer in its journal Theory and Decision.

Volume (Year): 66 (2009)
Issue (Month): 3 (March)
Pages: 283-299

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Handle: RePEc:kap:theord:v:66:y:2009:i:3:p:283-299

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Web page: http://www.springerlink.com/link.asp?id=100341

Related research

Keywords: time-consistency; revealed preference; choice function;

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  1. Duggan, John, 1999. "A General Extension Theorem for Binary Relations," Journal of Economic Theory, Elsevier, vol. 86(1), pages 1-16, May.
  2. Jacques Durieu & Hans Haller & Nicolas Querou & Philippe Solal, 2007. "Ordinal Games," CER-ETH Economics working paper series 07/74, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    • Jacques Durieu & Hans Haller & Nicolas QuĂ©rou & Philippe Solal, 2007. "Ordinal Games," Post-Print ujm-00194794, HAL.
  3. Suzumura, Kataro, 1976. "Remarks on the Theory of Collective Choice," Economica, London School of Economics and Political Science, vol. 43(172), pages 381-90, November.
  4. Joseph Eisenhauer & Luigi Ventura, 2006. "The prevalence of hyperbolic discounting: some European evidence," Applied Economics, Taylor & Francis Journals, vol. 38(11), pages 1223-1234.
  5. Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
  6. Fishburn, Peter C & Rubinstein, Ariel, 1982. "Time Preference," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 23(3), pages 677-94, October.
  7. Sen, Amartya K, 1971. "Choice Functions and Revealed Preference," Review of Economic Studies, Wiley Blackwell, vol. 38(115), pages 307-17, July.
  8. Donaldson, David & Weymark, John A., 1998. "A Quasiordering Is the Intersection of Orderings," Journal of Economic Theory, Elsevier, vol. 78(2), pages 382-387, February.
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