Individual preference rankings compatible with prices, income distributions and total resources
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Individual preference rankings compatible with prices, income distributions and total resources. / Balasko, Yves; Tvede, Mich.
I: Economic Theory, Bind 45, Nr. 3, 2010, s. 497-513.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Individual preference rankings compatible with prices, income distributions and total resources
AU - Balasko, Yves
AU - Tvede, Mich
N1 - JEL Classification: D1, D5
PY - 2010
Y1 - 2010
N2 - The compatibility of a given ranking with a dataset consisting of prices, income distributions and total resources is shown to be equivalent to the existence of a solution to a set of linear equalities and inequalities. Their structure makes their solution easier to compute than the solutions of Afriat's inequalities that characterize the rationalizability of a finite set of individual consumption data. Exploiting this structure, we also give new proofs of the rationalizability of finite data sets where total resources are close to being collinear and the contractibility and pathconnectedness of the set that consists of rationalizable finite datasets.
AB - The compatibility of a given ranking with a dataset consisting of prices, income distributions and total resources is shown to be equivalent to the existence of a solution to a set of linear equalities and inequalities. Their structure makes their solution easier to compute than the solutions of Afriat's inequalities that characterize the rationalizability of a finite set of individual consumption data. Exploiting this structure, we also give new proofs of the rationalizability of finite data sets where total resources are close to being collinear and the contractibility and pathconnectedness of the set that consists of rationalizable finite datasets.
U2 - 10.1007/s00199-009-0468-7
DO - 10.1007/s00199-009-0468-7
M3 - Journal article
VL - 45
SP - 497
EP - 513
JO - Economic Theory
JF - Economic Theory
SN - 0938-2259
IS - 3
ER -
ID: 22659430