bounded rationality 1consumer theory 1money pump 1optimal transport 1revealed preference 1utility recovery 1
From the 1 of 2 linked papers with an AI index.
2 papers
econ.TH2026
Revealed preference with optimal transport: money pumps, bounded rationality, and preference recovery
Joshua Lanier, Matthew Polisson, John K. -H. Quah
The paper links consumer irrationality measured by money‑pump vulnerability to deviations from utility maximization, showing that the maximal pump amount equals the minimal overpay…
econ.TH2026
Goodness-of-fit and utility estimation: what's possible and what's not
Yujian Chen, Joshua Lanier, John K. -H. Quah
A goodness-of-fit index measures the consistency of consumption data with a given model of utility-maximization. We show that for the class of well-behaved (i.e., continuous and in…