Expected utility maximization and demand behavior (Q1083986)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Expected utility maximization and demand behavior |
scientific article |
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Expected utility maximization and demand behavior (English)
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1986
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This paper extends the non-parametric approach to consumer demand analysis to the case of expected utility maximization. We provide necessary and sufficient conditions for a set of price-quantity pairs to be consistent with expected utility maximization, and investigate their relationship to revealed preference conditions. Extensions to incomplete markets and intertemporal resolution of uncertainty are also considered.
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non-parametric approach
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consumer demand analysis
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expected utility maximization
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revealed preference conditions
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incomplete markets
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intertemporal resolution of uncertainty
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