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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- Sprumont, Yves, 2000. "On the Testable Implications of Collective Choice Theories," Journal of Economic Theory, Elsevier, vol. 93(2), pages 205-232, August.
- Indrajit Ray & Lin Zhou, .
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00/15, Department of Economics, University of York.
- Donald J. Brown & Rosa L. Matzkin, 1995.
"Testable Restrictions on the Equilibrium Manifold,"
Cowles Foundation Discussion Papers
1109, Cowles Foundation for Research in Economics, Yale University.
- 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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