Absolute and Relative Time-Consistent Revealed Preferences
AbstractWe 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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Bibliographic InfoPaper provided by Ghent University, Faculty of Economics and Business Administration in its series Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium with number 07/485.
Length: 12 pages
Date of creation: Oct 2007
Date of revision:
Time-consistency; Revealed Preference; Choice Function.;
Other versions of this item:
- Thomas Demuynck, 2009. "Absolute and Relative Time-Consistent Revealed Preferences," Theory and Decision, Springer, vol. 66(3), pages 283-299, March.
- NEP-ALL-2008-02-02 (All new papers)
- NEP-DCM-2008-02-02 (Discrete Choice Models)
- NEP-UPT-2008-02-02 (Utility Models & Prospect Theory)
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CER-ETH Economics working paper series
07/74, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
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