In the previous chapter, we took a preference relation as a directly observable object. In descriptive arguments, however, we cannot cut into our brain and show “hey, this is preference,” although I’m aware that there is a long history of such attempts. Here, let me take a conservative standpoint that all what we can observe directly is at most choice behavior.

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Revealed Preference

  • Takashi Hayashi

摘要

In the previous chapter, we took a preference relation as a directly observable object. In descriptive arguments, however, we cannot cut into our brain and show “hey, this is preference,” although I’m aware that there is a long history of such attempts. Here, let me take a conservative standpoint that all what we can observe directly is at most choice behavior.