Menu-dependent preferences and revelation principle

• 成果类型: Article
• 署名作者: Saran, Rene
• 署名单位: Maastricht University
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2011.03.009
• 发表日期: 2011
• 页码: 1712-1720
• 关键词: Revelation principle; Menu-dependent preferences; Weak contraction consistency; minimax regret

摘要

We extend the set of preferences to include menu-dependent preferences and characterize the domain in which the revelation principle holds. A weakening of the well-known contraction consistency is shown to define a subset of this domain. However, we show that minimax-regret preference can be outside the domain. (C) 2011 Elsevier Inc. All rights reserved.