Core Rationalizability in Two-Agent Exchange Economies
We provide a characterization of selection correspondences in two-person exchange economies that can be core rationalized in the sense that there exists a preference profile with some standard properties that generates the observed choices as the set of core elements of the economy for any given initial endowment vector. The approach followed in this paper deviates from the standard rational choice model in that a rationalization in terms of a profile of individual orderings rather than in terms of a single individual or social preference relation is analyzed.
|Date of creation:||Feb 2000|
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- Ray, Indrajit & Zhou, Lin, 2001.
"Game Theory via Revealed Preferences,"
Games and Economic Behavior,
Elsevier, vol. 37(2), pages 415-424, November.
- Brown, Donald J & Matzkin, Rosa L, 1996.
"Testable Restrictions on the Equilibrium Manifold,"
Econometric Society, vol. 64(6), pages 1249-62, November.
- Sprumont, Yves, 2000. "On the Testable Implications of Collective Choice Theories," Journal of Economic Theory, Elsevier, vol. 93(2), pages 205-232, August.
- Amartya K. Sen, 1971. "Choice Functions and Revealed Preference," Review of Economic Studies, Oxford University Press, vol. 38(3), pages 307-317.
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