Revealed Preference Theory
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Author | : Christopher P. Chambers |
Publisher | : Cambridge University Press |
Total Pages | : 241 |
Release | : 2016-01-05 |
Genre | : Business & Economics |
ISBN | : 1107087805 |
The theory of revealed preference has a long, distinguished tradition in economics but lacked a systematic presentation of the theory until now. This book deals with basic questions in economic theory and studies situations in which empirical observations are consistent or inconsistent with some of the best known economic theories.
Author | : Stanley Wong |
Publisher | : Routledge |
Total Pages | : 275 |
Release | : 2006-01-13 |
Genre | : Business & Economics |
ISBN | : 1134385528 |
Originally published over two decades ago, this classic text within the philosophy of economics is a tour de force against revealed preference. It critically examines the research programme carried out by the Nobel Prize winner Paul Samuelson on the revealed preference approach to the theory of consumer behaviour. It also challenges two essential premises: * that the programme has been completed * that the various contributions of Samuelson are mutually consistent. This text contains a new preface by Wong, in which he provides a detailed insight into the origins of his pioneering text, and a new introduction from Philip Mirowski, analyzing the impact The Foundation of Paul Samuelson’s Revealed Preference Theory has had on the discipline of economics as well as explaining why it remains core reading for economists today. The defining statement of economic method, this book will be of interest to economists everywhere.
Author | : Patricia A. Champ |
Publisher | : Springer |
Total Pages | : 508 |
Release | : 2017-02-08 |
Genre | : Business & Economics |
ISBN | : 9400771045 |
This is a practical book with clear descriptions of the most commonly used nonmarket methods. The first chapters of the book provide the context and theoretical foundation of nonmarket valuation along with a discussion of data collection procedures. The middle chapters describe the major stated- and revealed-preference valuation methods. For each method, the steps involved in implementation are laid out and carefully explained with supporting references from the published literature. The final chapters of the book examine the relevance of experimentation to economic valuation, the transfer of existing nonmarket values to new settings, and assessments of the reliability and validity of nonmarket values. The book is relevant to individuals in many professions at all career levels. Professionals in government agencies, attorneys involved with natural resource damage assessments, graduate students, and others will appreciate the thorough descriptions of how to design, implement, and analyze a nonmarket valuation study.
Author | : Stanley Wong |
Publisher | : Routledge |
Total Pages | : 143 |
Release | : 2006-01-13 |
Genre | : Business & Economics |
ISBN | : 1134385536 |
Containing a new preface by Wong, and a new introduction from Philip Mirowski, this classic text within the philosophy of economics, originally published over two decades ago, is a tour de force against revealed preference.
Author | : Nancy E. Bockstael |
Publisher | : Springer Science & Business Media |
Total Pages | : 385 |
Release | : 2007-03-31 |
Genre | : Business & Economics |
ISBN | : 1402053185 |
This book provides a systematic review of those economic approaches for valuing the environment and natural resources that use information on what people do, not what they say. The authors have worked on models of revealed preferences for valuing environmental and natural resources for several decades. The book provides a candid review of the major conceptual challenges and an exploration of neglected issues in the literature.
Author | : Stanley Wong |
Publisher | : London ; Boston : Routledge & K. Paul |
Total Pages | : 168 |
Release | : 1978 |
Genre | : Business & Economics |
ISBN | : |
Good,No Highlights,No Markup,all pages are intact, Slight Shelfwear,may have the corners slightly dented, may have slight color changes/slightly damaged spine.
Author | : Irina Georgescu |
Publisher | : Springer |
Total Pages | : 286 |
Release | : 2007-07-16 |
Genre | : Technology & Engineering |
ISBN | : 3540689982 |
This book extends the theory of revealed preference to fuzzy choice functions, providing applications to multicriteria decision making problems. The main topics of revealed preference theory are treated in the framework of fuzzy choice functions. New topics, such as the degree of dominance and similarity of vague choices, are developed. The results are applied to economic problems where partial information and human subjectivity involve vague choices and vague preferences.
Author | : Laurens Cherchye |
Publisher | : Foundations & Trends |
Total Pages | : 90 |
Release | : 2012-03 |
Genre | : |
ISBN | : 9781601985361 |
Collective Household Consumption Behavior: Revealed Preference Analysis presents a nonparametric `revealed preference' methodology for analyzing collective consumption behavior in practical applications, while possibly accounting for externalities, public consumption and the use of assignable quantity information. Collective Household Consumption Behavior: Revealed Preference Analysis considers two types of collective models: The general collective model considers general preferences of the individual household members, which allow for externalities and public consumption within the household. The special collective models that do not allow for consumption externalities. After the introduction, section 2 sets the stage by introducing the revealed preference characterizations of the unitary model. Section 3 presents a collective model that allows for general individual preferences and discusses its revealed preference characterization. Sections 4 and 5 show how to bring this theoretical characterization to observational data. More specifically, Section 4 introduces the mixed integer programming characterizations for special collective models that impose restrictions on the household members' preferences. Section 5 does the same for the general collective model. Throughout Section 2 to Section 5, the authors illustrate the most relevant concepts by means of numerical examples. In Section 6 we subsequently illustrate our main results for data drawn from the Russian Longitudinal Monitoring Survey.
Author | : David Kreps |
Publisher | : Routledge |
Total Pages | : 228 |
Release | : 2018-05-04 |
Genre | : Social Science |
ISBN | : 0429967160 |
In this book, Professor Kreps presents a first course on the basic models of choice theory that underlie much of economic theory. This course, taught for several years at the Graduate School of Business, Stanford University, gives the student an introduction to the axiomatic method of economic analysis, without placing too heavy a demand on mathematical sophistication.The course begins with the basics of choice and revealed preference theory and then discusses numerical representations of ordinal preference. Models with uncertainty come next: First is von Neumann?Morgenstern utility, and then choice under uncertainty with subjective uncertainty, using the formulation of Anscombe and Aumann, and then sketching the development of Savage's classic theory. Finally, the course delves into a number of special topics, including de Finetti's theorem, modeling choice on a part of a larger problem, dynamic choice, and the empirical evidence against the classic models.
Author | : Takashi Hayashi |
Publisher | : Springer Nature |
Total Pages | : 544 |
Release | : 2021-07-21 |
Genre | : Mathematics |
ISBN | : 9811635412 |
This textbook covers microeconomic theory at the level of intermediate and advanced undergraduates. It is also intended as an introduction for those with other intellectual and academic backgrounds who may not necessarily agree with “mainstream” economists but at least are interested knowing how they think and see things. The book provides thorough explanations of definitions and assumptions that the theory is based upon. It provides comprehensive accounts of motivations and reservations behind the theory. As well, it precisely presents the logical process of how the assumptions lead to the conclusion, conveying the intuition and the key of the arguments. An abundance of topics is included here: individual choice, general equilibrium, partial equilibrium, game theory, imperfect competition, transaction under incomplete information, market failures, welfare economics, social choice and mechanism design. The book is a valuable resource for any reader studying or simply interested in microeconomic theory.