A general revealed preference theorem for stochastic demand behavior

B-Tier
Journal: Economic Theory
Year: 2004
Volume: 23
Issue: 3
Pages: 589-599

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

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

Abstract

We present a general revealed preference theorem concerning stochastic choice behavior by consumers. We show that, when the consumer spends her entire wealth, the Weak Axiom of Stochastic Revealed Preference due to Bandyopadhyay, Dasgupta, and Pattanaik (1999) is equivalent to a restriction on stochastic demand behavior that we call stochastic substitutability. We also show that the relationship between the Weak Axiom of Revealed Preference and Samuelson's inequality in the deterministic theory, and the main result of Bandyopadhyay, Dasgupta, and Pattanaik (1999) are both special cases of our result. Copyright Springer-Verlag Berlin/Heidelberg 2004

Technical Details

RePEc Handle
repec:spr:joecth:v:23:y:2004:i:3:p:589-599
Journal Field
Theory
Author Count
3
Added to Database
2026-01-24