Is utility transferable? A revealed preference analysis

• 成果类型: Article
• 署名作者: Cherchye, Laurens; Demuynck, Thomas; De Rock, Bram
• 署名单位: KU Leuven; Maastricht University; Universite Libre de Bruxelles
• 刊物名称: THEORETICAL ECONOMICS
• ISSN/ISSBN: 1933-6837
• DOI: 10.3982/TE1560
• 发表日期: 2015-01-01
• 页码: 51-65
• 关键词: Transferable utility hypothesis; generalized quasilinearity; household consumption; nonparametric tests; revealed preferences

摘要

The transferable utility hypothesis underlies important theoretical results in household economics. We provide a revealed preference framework for bringing this (theoretically appealing) hypothesis to observational data. We establish revealed preference conditions that must be satisfied for observed household consumption behavior to be consistent with transferable utility. We also show that these conditions are testable by means of integer programming methods.