Journal article
How Demanding Is the Revealed Preference Approach to Demand?
- Abstract:
-
A well-known problem with revealed preference methods is that when data are found to satisfy their restrictions it is hard to know whether this should be viewed as a triumph for economic theory, or a warning that these conditions are so undemanding that almost anything goes. This paper allows researchers to make this distinction. Our approach uses an axiomatic characterization of a measure of predictive success due to Selten (1991). We illustrate the idea using a panel dataset. The results sh...
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Bibliographic Details
- Publisher:
- American Economic Association
- Journal:
- American Economic Review
- Volume:
- 101
- Issue:
- 6
- Pages:
- 2782 - 2795
- Publication date:
- 2011-10-01
- DOI:
- ISSN:
-
0002-8282
Item Description
- Language:
- English
- UUID:
-
uuid:68bc4965-8111-41ff-9456-20511a243bd4
- Local pid:
- oai:economics.ouls.ox.ac.uk:15303
- Deposit date:
- 2011-12-22
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- Copyright date:
- 2011
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