The Revealed Preference Theory of Changing Tastes

S-Tier
Journal: Review of Economic Studies
Year: 2005
Volume: 72
Issue: 2
Pages: 429-448

Authors (2)

Score contribution per author:

4.022 = (α=2.01 / 2 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We analyse preferences over finite decision problems in order to model decision-makers with "changing tastes". we provide conditions on these preferences that identify the Strotz model of consistent planning. building on an example given by <xref ref-type="bibr" rid="R8">Peleg and Yaari (1973)</xref>, we show that for problems with infinitely many choices, Strotz's representation of preferences may not be well defined. For that case, we propose a well-defined approximation which is empirically indistinguishable from the Strotz preference that is being approximated. Copyright 2005, Wiley-Blackwell.

Technical Details

RePEc Handle
repec:oup:restud:v:72:y:2005:i:2:p:429-448
Journal Field
General
Author Count
2
Added to Database
2026-01-29