Abstract
In this paper we consider a two-period decision problem, where the feasible set is the set of "certain × uncertain" consumption pairs. That is, the decision-maker chooses (x, m) in a feasible set, where x is a certain first-period consumption and m is a random second-period consumption, a Borel probability measure on the set of real numbers. The purpose of this paper is to present revealed preference theory for non-expected utility on "certain × uncertain" consumption pairs. We present necessary and sufficient conditions for the data to be consistent with some non-expected utility functions.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 54-76 |
| Number of pages | 23 |
| Journal | Japanese Economic Review |
| Volume | 49 |
| Issue number | 1 |
| State | Published - Jan 1 1998 |
| Externally published | Yes |
ASJC Scopus subject areas
- Economics and Econometrics
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Cite this
Kamiya, K., & Ichimura, H. (1998). A revealed preference theory for non-expected utility on "certain × uncertain" consumption pairs. Japanese Economic Review, 49(1), 54-76.