Revealed Invariant Preference
Fuente:
arXiv
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| Hauptverfasser: | , |
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| Format: | Preprint |
| Veröffentlicht: |
2024
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| _version_ | 1866929453170425856 |
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| author | Caradonna, Peter Chambers, Christopher P. |
| author_facet | Caradonna, Peter Chambers, Christopher P. |
| contents | We consider the problem of rationalizing choice data by a preference satisfying an arbitrary collection of invariance axioms. Examples of such axioms include quasilinearity, homotheticity, independence-type axioms for mixture spaces, constant relative/absolute risk and ambiguity aversion axioms, stationarity for dated rewards or consumption streams, separability, and many others. We provide necessary and sufficient conditions for invariant rationalizability via a novel approach which relies on tools from the theoretical computer science literature on automated theorem proving. We also establish a generalization of the Dushnik-Miller theorem, which we use to give a complete description of the out-of-sample predictions generated by the data under any such collection of axioms. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2408_04573 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Revealed Invariant Preference Caradonna, Peter Chambers, Christopher P. Theoretical Economics We consider the problem of rationalizing choice data by a preference satisfying an arbitrary collection of invariance axioms. Examples of such axioms include quasilinearity, homotheticity, independence-type axioms for mixture spaces, constant relative/absolute risk and ambiguity aversion axioms, stationarity for dated rewards or consumption streams, separability, and many others. We provide necessary and sufficient conditions for invariant rationalizability via a novel approach which relies on tools from the theoretical computer science literature on automated theorem proving. We also establish a generalization of the Dushnik-Miller theorem, which we use to give a complete description of the out-of-sample predictions generated by the data under any such collection of axioms. |
| title | Revealed Invariant Preference |
| topic | Theoretical Economics |
| url | https://arxiv.org/abs/2408.04573 |