Money-metric utility functions in the theory of revealed preference (Q908822)
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scientific article; zbMATH DE number 4135652
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| English | Money-metric utility functions in the theory of revealed preference |
scientific article; zbMATH DE number 4135652 |
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Money-metric utility functions in the theory of revealed preference (English)
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1989
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The purpose of this paper is to fill gaps in the development of revealed preference theory by making full use of money-metric utility functions à la McKenzie and Uzawa. Firstly, it is shown that Shephard's lemma can be deduced within the framework of revealed preference. Secondly, the author succeeds in deriving the symmetry and negative semidefiniteness of the Slutzky matrix without using the theory of differential equations, thus going beyond Uzawa's work.
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revealed preference
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money-metric utility functions
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Slutzky matrix
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0.8025244474411011
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0.7978116869926453
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0.7772588729858398
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0.7714014649391174
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0.7604821920394897
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