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Revealed Preference Analysis for Convex Rationalizations on Nonlinear Budget Sets

  • Laurens Cherchye
  • Thomas Demuynck
  • Bram De Rock

We present necessary and sufficient revealed preference conditions to verify whether a finite data seton nonlinear budget sets is consistent with the maximization of a quasi–concave utility function. Ourresults can be used to test for convexity of the underlying preference relation. We also show that in manysettings, our conditions are easy to use in practical applications.

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File URL: https://dipot.ulb.ac.be/dspace/bitstream/2013/133538/1/2012-044-CHERCHYE_DEMUYNCK_DEROCK-revealed.pdf
File Function: 2012-044-CHERCHYE_DEMUYNCK_DEROCK-revealed
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Paper provided by ULB -- Universite Libre de Bruxelles in its series Working Papers ECARES with number ECARES 2012-044.

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Length: 20 p.
Date of creation: Nov 2012
Date of revision:
Publication status: Published by:
Handle: RePEc:eca:wpaper:2013/133538
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Web page: http://difusion.ulb.ac.be

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  1. Francoise Forges & Enrico Minelli, 2006. "Afriat’s Theorem for General Budget Sets," CESifo Working Paper Series 1703, CESifo Group Munich.
  2. repec:ecj:econjl:v:122:y:2012:i::p:305-331 is not listed on IDEAS
  3. A. Fostel & H. Scarf & M. Todd, 2004. "Two new proofs of Afriat’s theorem," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 24(1), pages 211-219, 07.
  4. Diewert, Erwin, 2011. "Afriat's Theorem and Some Extensions to Choice under Uncertainty," Economics working papers erwin_diewert-2011-22, Vancouver School of Economics, revised 01 Sep 2011.
  5. Varian, Hal R, 1982. "The Nonparametric Approach to Demand Analysis," Econometrica, Econometric Society, vol. 50(4), pages 945-73, July.
  6. Rosa L. Matzkin & Marcel K. Richter, 1987. "Testing Strictly Concave Rationality," Cowles Foundation Discussion Papers 844, Cowles Foundation for Research in Economics, Yale University.
  7. Demuynck, Thomas, 2009. "A general extension result with applications to convexity, homotheticity and monotonicity," Mathematical Social Sciences, Elsevier, vol. 57(1), pages 96-109, January.
  8. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762, June.
  9. Francoise Forges & Enrico Minelli, 2009. "Afriat's theorem for generalized budget sets," Post-Print hal-00360726, HAL.
  10. Richter, Marcel K. & Wong, K.-C.Kam-Chau, 2004. "Concave utility on finite sets," Journal of Economic Theory, Elsevier, vol. 115(2), pages 341-357, April.
  11. repec:dau:papers:123456789/4099 is not listed on IDEAS
  12. Yatchew, Adonis John, 1985. "A note on non-parametric tests of consumer behaviour," Economics Letters, Elsevier, vol. 18(1), pages 45-48.
  13. Matzkin, Rosa L, 1991. "Axioms of Revealed Preference for Nonlinear Choice Sets," Econometrica, Econometric Society, vol. 59(6), pages 1779-86, November.
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