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Absolute and Relative Time-Consistent Revealed Preferences

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Author Info
T. 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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Publisher Info
Paper 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.

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Length: 12 pages
Date of creation: Oct 2007
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Handle: RePEc:rug:rugwps:07/485

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Related research
Keywords: Time-consistency; Revealed Preference; Choice Function.;

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  1. Joseph G. Eisenhauer & Luigi Ventura, 2006. "The prevalence of hyperbolic discounting: some European evidence," Applied Economics, Taylor and Francis Journals, vol. 38(11), pages 1223-1234, June. [Downloadable!] (restricted)
  2. Sen, Amartya K, 1971. "Choice Functions and Revealed Preference," Review of Economic Studies, Blackwell Publishing, vol. 38(115), pages 307-17, July. [Downloadable!] (restricted)
  3. 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. [Downloadable!] (restricted)
  4. Duggan, John, 1999. "A General Extension Theorem for Binary Relations," Journal of Economic Theory, Elsevier, vol. 86(1), pages 1-16, May. [Downloadable!] (restricted)
  5. 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. [Downloadable!] (restricted)
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  6. 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.
  7. 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. [Downloadable!] (restricted)
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