English, Article, Journal or magazine article edition: Revealed preference and indifferent selection Eric Danan

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Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Revealed preference and indifferent selection
Author
  • Eric Danan
Physical Description
  • preprint
Notes
  • It is shown that preferences can be constructed from observed choice behavior in a way that is robust to indifferent selection (i.e., the agent is indifferent between two alternatives but, nevertheless, is only observed selecting one of them). More precisely, a suggestion by Savage (1954) to reveal indifferent selection by considering small monetary perturbations of alternatives is formalized and generalized to a purely topological framework: references over an arbitrary topological space can be uniquely derived from observed behavior under the assumptions that they are continuous and nonsatiated and that a strictly preferred alternative is always chosen, and indifferent selection is then characterized by discontinuity in choice behavior. Two particular cases are then analyzed: monotonic preferences over a partially ordered set, and preferences representable by a continuous pseudo-utility function.
  • Revealed preference, indifference, choice behavior, continuity, nonsatiation, monotonicity, pseudo-utility
  • RePEc:upf:upfgen:952
Language
  • English
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