Individual Preference Rankings Compatible with Prices, Income Distributions and Total Resources
AbstractWe consider the problem of determining the individual preference rankings that are necessarily implied by a dataset consisting of prices, income distributions and total resources. We show the equivalence between the compatibility with individual preference rankings and the existence of a solution to a set of linear equalities and inequalities. Using this characterization, we give new proofs of the rationalizability of finite data sets where total resources are close to being collinear and the contractibility and pathconnectedness of the set that consists of rationalizable finite datasets.
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Bibliographic InfoPaper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 09-09.
Length: 9 pages
Date of creation: Apr 2009
Date of revision:
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equilibrium manifold; rationalizability; testability; pathconnectedness;
Other versions of this item:
- Yves Balasko & Mich Tvede, 2010. "Individual preference rankings compatible with prices, income distributions and total resources," Economic Theory, Springer, vol. 45(3), pages 497-513, December.
- D1 - Microeconomics - - Household Behavior
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-05-02 (All new papers)
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