Economic Theory

, Volume 26, Issue 2, pp 245–264 | Cite as

Revealed stochastic preference: a synthesis

Summary.

The problem of revealed stochastic preference is whether probability distributions of observed choices in a population for various choice situations are consistent with a hypothesis of maximization of preference preorders by members of the population. This is a population analog of the classical revealed preference problem in economic consumer theory. This paper synthesizes the solutions to this problem that have been obtained by Marcel K. Richter and the author, and by J. C. Falmagne, in the case of finite sets of alternatives, and utilizes unpublished research of Richter and the author to give results for the non-finite choice sets encountered in economic consumer theory.

Keywords and Phrases:

Choice Stochastic preference Revealed preference Random utility maximization. 

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© Springer-Verlag Berlin/Heidelberg 2005

Authors and Affiliations

  1. 1.Department of EconomicsUniversity of CaliforniaBerkeleyUSA

Personalised recommendations