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Revealed preference

Index Revealed preference

Revealed preference theory, pioneered by economist Paul Samuelson, is a method of analyzing choices made by individuals, mostly used for comparing the influence of policies on consumer behavior. [1]

26 relations: Amartya Sen, Antisymmetric relation, Ariel Rubinstein, Binary relation, Budget constraint, Budget set, Choice modelling, Conjoint analysis, Consumer behaviour, Consumer choice, Contingent valuation, Demand, Economica, Foot voting, Hal Varian, Hedonic regression, Inequality (mathematics), Marginal rate of substitution, Monotonic function, Paul Samuelson, Preference (economics), Preference revelation, The American Economic Review, Transitive closure, Transitive relation, Utility.

Amartya Sen

Amartya Kumar Sen, CH, FBA (born 3 November 1933) is an Indian economist and philosopher, who since 1972 has taught and worked in India, the United Kingdom, and the United States.

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Antisymmetric relation

In mathematics, a binary relation R on a set X is anti-symmetric if there is no pair of distinct elements of X each of which is related by R to the other.

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Ariel Rubinstein

Ariel Rubinstein (Hebrew: אריאל רובינשטיין) (born April 13, 1951) is an Israeli economist who works in Economic Theory, Game Theory and Bounded Rationality.

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Binary relation

In mathematics, a binary relation on a set A is a set of ordered pairs of elements of A. In other words, it is a subset of the Cartesian product A2.

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Budget constraint

A budget constraint represents all the combinations of goods and services that a consumer may purchase given current prices within his or her given income.

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Budget set

A budget set or opportunity set includes all possible consumption bundles that someone can afford given the prices of goods and the person's income level.

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Choice modelling

Choice modelling attempts to model the decision process of an individual or segment via revealed preferences or stated preferences made in a particular context or contexts.

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Conjoint analysis

Conjoint analysis is a survey based statistical technique used in market research that helps determine how people value different attributes (feature, function, benefits) that make up an individual product or service.

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Consumer behaviour

Consumer behaviour is the study of individuals, groups, or organizations and all the activities associated with the purchase, use and disposal of goods and services, including the consumer's emotional, mental and behavioural responses that precede or follow these activities.

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Consumer choice

The theory of consumer and choice is the branch of microeconomics that relates preferences to consumption expenditures and to consumer demand curves.

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Contingent valuation

Contingent valuation is a survey-based economic technique for the valuation of non-market resources, such as environmental preservation or the impact of contamination.

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Demand

In economics, demand is the quantities of a commodity or a service that people are willing and able to buy at various prices, over a given period of time.

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Economica

Economica is a peer-reviewed academic journal of generalist economics published on behalf of the London School of Economics by Wiley-Blackwell.

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Foot voting

Foot voting is expressing one's preferences through one's actions, by voluntarily participating in or withdrawing from an activity, group, or process; especially, physical migration to leave a situation one does not like, or to move to a situation one regards as more beneficial.

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Hal Varian

Hal Ronald Varian (born March 18, 1947 in Wooster, Ohio) is an economist specializing in microeconomics and information economics.

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Hedonic regression

In economics, hedonic regression or hedonic demand theory is a revealed preference method of estimating demand or value.

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Inequality (mathematics)

In mathematics, an inequality is a relation that holds between two values when they are different (see also: equality).

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Marginal rate of substitution

In economics, the marginal rate of substitution (MRS) is the rate at which a consumer can give up some amount of one good in exchange for another good while maintaining the same level of utility.

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Monotonic function

In mathematics, a monotonic function (or monotone function) is a function between ordered sets that preserves or reverses the given order.

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Paul Samuelson

Paul Anthony Samuelson (15 May 1915 – 13 December 2009) was an American economist and the first American to win the Nobel Memorial Prize in Economic Sciences.

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Preference (economics)

In economics and other social sciences, preference is the ordering of alternatives based on their relative utility, a process which results in an optimal "choice" (whether real or theoretical).

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Preference revelation

In public choice theory, preference revelation (also preference revelation problem) is an area of study concerned with ascertaining the public's demand for public goods.

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The American Economic Review

The American Economic Review is a peer-reviewed academic journal of economics.

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Transitive closure

In mathematics, the transitive closure of a binary relation R on a set X is the smallest relation on X that contains R and is transitive.

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Transitive relation

In mathematics, a binary relation over a set is transitive if whenever an element is related to an element and is related to an element then is also related to.

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Utility

Within economics the concept of utility is used to model worth or value, but its usage has evolved significantly over time.

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Redirects here:

Demonstrated preference, Generalized Axiom of Revealed Preference, Principle of revealed preference, Revealed Preference, Revealed preference theory, Revealed preferences, Strong axiom of revealed preferences, Weak Axiom of Revealed Preferences, Weak axiom of revealed preferences.

References

[1] https://en.wikipedia.org/wiki/Revealed_preference

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