Recovering preferences from finite data

DOI10.3982/ECTA17845MaRDI QIDQ5020498zbMATH OpenOpenAlexFDO

Authors Christopher P. Chambers, Federico Echenique, Nicolas S. Lambert

Publication date 6 January 2022

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/1909.05457

zbMATH Keywords

choice dataconsistencyrevealed preference

Mathematics Subject Classification ID

Decision theory (91B06) Individual preferences (91B08)

Abstract: We study preferences estimated from finite choice experiments and provide sufficient conditions for convergence to a unique underlying "true" preference. Our conditions are weak, and therefore valid in a wide range of economic environments. We develop applications to expected utility theory, choice over consumption bundles, menu choice and intertemporal consumption. Our framework unifies the revealed preference tradition with models that allow for errors.

Recommendations

• Revealed preference and expected utility
• Revealed preference and identification
• Inference of preference heterogeneity from choice data
• Revealed preference theory for finite choice sets
• Revealed stochastic preference: a synthesis

Cited in

(9)

• Simple preference intensity comparisons
• On the recoverability of forecasters' preferences
• Eliciting welfare preferences from behavioural data sets
• Inferring Sparse Preference Lists from Partial Information
• A simple and general axiomatization of average utility maximization for infinite streams
• Identification in general equilibrium
• Empirical welfare economics
• Final topology for preference spaces
• On the limitations of data-based price discrimination

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