most citedGoodness-of-fit and utility estimation: what's possible and what's not

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econ.GN2026

Ever since Ellsberg

Aluma Dembo, Shachar Kariv, Matthew Polisson +1

Ellsberg's famous paradox challenged Savage's subjective expected utility theory (EUT) -- which reduces uncertainty to risk -- by suggesting an aversion toward ambiguity. We provid…

econ.GN2024

Rationalizability, Cost-Rationalizability, and Afriat's Efficiency Index

Matthew Polisson, John K. -H. Quah

This note explains the equivalence between approximate rationalizability and approximate cost-rationalizability within the context of consumer demand. In connection with these resu…