讲义显示偏好.ppt
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1、Chapter Seven,Revealed Preference,Revealed Preference Analysis,Suppose we observe the demands (consumption choices) that a consumer makes for different budgets. This reveals information about the consumers preferences. We can use this information to .,Revealed Preference Analysis,Test the behavioral
2、 hypothesis that a consumer chooses the most preferred bundle from those available. Discover the consumers preference relation.,Assumptions on Preferences,Preferences do not change while the choice data are gathered. are strictly convex. are monotonic. Together, convexity and monotonicity imply that
3、 the most preferred affordable bundle is unique.,Assumptions on Preferences,x2,x1,x1*,x2*,If preferences are convex and monotonic (i.e. well-behaved) then the most preferred affordable bundle is unique.,Direct Preference Revelation,Suppose that the bundle x* is chosen when the bundle y is affordable
4、. Then x* is revealed directly as preferred to y (otherwise y would have been chosen). x*直接显示偏好于,Direct Preference Revelation,x2,x1,x*,y,The chosen bundle x* is revealed directly as preferred to the bundles y and z.,z,Direct Preference Revelation,That x is revealed directly as preferred to y will be
5、 written as x y.,Indirect Preference Revelation,Suppose x is revealed directly preferred to y, and y is revealed directly preferred to z. Then, by transitivity, x is revealed indirectly as preferred to z. Write this as x z so x y and y z x z.,I,p,I,p,Indirect Preference Revelation,x2,x1,x*,z,z is no
6、t affordable when x* is chosen.,Indirect Preference Revelation,x2,x1,x*,y*,z,x* is not affordable when y* is chosen.,Indirect Preference Revelation,x2,x1,x*,y*,z,z is not affordable when x* is chosen. x* is not affordable when y* is chosen.,z is not affordable when x* is chosen. x* is not affordable
7、 when y* is chosen. So x* and z cannot be compared directly.,Indirect Preference Revelation,x2,x1,x*,y*,z,But x*x* y*,z is not affordable when x* is chosen. x* is not affordable when y* is chosen. So x* and z cannot be compared directly.,Indirect Preference Revelation,x2,x1,x*,y*,z,But x*x* y* and y
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