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New Developments in Revealed Preference Theory: Decisions Under Risk, Uncertainty, and Intertemporal Choice
Annual Review of Economics ( IF 5.970 ) Pub Date : 2020-08-02 , DOI: 10.1146/annurev-economics-082019-110800
Federico Echenique 1
Affiliation  

This survey reviews recent developments in revealed preference theory. It discusses the testable implications of theories of choice that are germane to specific economic environments. The focus is on expected utility in risky environments; subjected expected utility and maxmin expected utility in the presence of uncertainty; and exponentially discounted utility for intertemporal choice. The testable implications of these theories for data on choice from classical linear budget sets are described, and shown to follow a common thread. The theories all imply an inverse relation between prices and quantities, with different qualifications depending on the functional forms in the theory under consideration.

中文翻译:

显性偏好理论的新发展:风险,不确定性和跨期选择下的决策

这项调查回顾了揭示偏好理论的最新发展。它讨论了与特定经济环境密切相关的选择理论的可验证含义。重点是在危险环境中的预期效用;在存在不确定性的情况下服从预期效用和maxmin预期效用;以及跨期选择的指数折价效用。描述了这些理论对于从经典线性预算集中选择数据的可验证含义,并显示遵循共同的思路。这些理论都隐含着价格和数量之间的反比关系,取决于所考虑的理论中的功能形式,其资格也不同。
更新日期:2020-08-02
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