Classifying bounded rationality in limited data sets: a Slutsky matrix approach

Autor:	Victor H. Aguiar, Roberto Serrano
Jazyk:	angličtina
Rok vydání:	2018
Předmět:	Consumer theory Rationality Slutsky matrix norm Revealed preference approach Bounded rationality Public finance K4430-4675 Economic growth development planning HD72-88
Zdroj:	SERIEs: Journal of the Spanish Economic Association, Vol 9, Iss 4, Pp 389-421 (2018)
Druh dokumentu:	article
ISSN:	1869-4187 1869-4195
DOI:	10.1007/s13209-018-0178-0
Popis:	Abstract Given any observed finite sequence of prices, wealth, and demand choices, we propose a way to measure and classify the departures from rationality in a systematic fashion, by connecting violations of the underlying Slutsky matrix properties to the length of revealed demand cycles. The approach complements our previous study (Aguiar and Serrano in J Econ Theory 172:163–201, 2017), which is based on the entire demand function. The methodology can be easily applied in experimental demand data sets.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/ff0d01be6c0a481e956d94f9e312ab40 Zobrazit plný text záznamu Full text from SpringerLink View record in DOAJ