3 papers
econ.TH2024
Revealed preference and revealed preference cycles: a survey
Paweł Dziewulski, Joshua Lanier, John K. -H. Quah
Afriat's Theorem (1967) states that a dataset can be thought of as being generated by a consumer maximizing a continuous and increasing utility function if and only if it is free o…
econ.TH2024
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…
econ.TH2024
Revealed preference with optimal transport: money pumps, bounded rationality, and preference recovery
Joshua Lanier, Matthew Polisson, John K. -H. Quah
This paper explores the connection between two distinct notions of irrationality: the extent to which the consumer fails to maximize his utility function and the extent to which th…