revealed preference

From Wiktionary, the free dictionary
Jump to navigation Jump to search

English

[edit]
English Wikipedia has an article on:
Wikipedia

Etymology

[edit]

Coined by American economist Paul Samuelson in the title of his 1948 paper expounding a theory for inferring consumer preference from purchasing habits.[1] Samuelson first published a version of his theory ten years earlier, in a 1938 paper, but did not use the term revealed preference in the 1938 paper.[2]

Noun

[edit]

revealed preference (countable and uncountable, plural revealed preferences)

  1. A consumer preference as inferred from purchasing habits according to a theory invented by American economist Paul A. Samuelson.
  2. (uncountable) Samuelson's theory for inferring consumer preference from purchasing habits.
    • 1973, Ann F. Friedlaender (February 1973), "Macro policy goals in the postwar period: a study in revealed preference", Quarterly Journal of Economics, 87(1):25–43, page 25:
      This paper reports on an attempt to apply revealed preference to the activities of the federal government to determine the weights it attached to various macro policy goals during the Eisenhower and Kennedy-Johnson administrations.
    • 2005, Yusufcan Masatlioglu and Efe A. Ok (March 2005), "Rational choice with status quo bias", Journal of Economic Theory, 121(1):1–29 (DOI:10.1016/j.jet.2004.03.007), page 1:
      We follow a revealed preference approach, and obtain two nested models of rational choice that allow phenomena like the status quo bias and the endowment effect, and that are applicable in any choice situation to which the standard (static) choice model applies.
    • 2011, John C. Whitehead, Timothy C. Haab, and Ju-Chin Huang, chapter 1: "Introduction" (pages 1–9), in John C. Whitehead, Timothy C. Haab, and Ju-Chin Huang, editors (2011), Preference data for environmental valuation: combining revealed and stated approaches, Routledge Explorations in Environmental Economics (New York: Routledge), →ISBN, page 1:
      Most economists, however, are firmly rooted in the revealed preference paradigm to estimate the use values of environmental resources.

Translations

[edit]

See also

[edit]

References

[edit]
  1. ^ Paul A. Samuelson (1948 November) “Consumption Theory in Terms of Revealed Preference”, in Economica[1], volume 15, number 60, →DOI, page 243
  2. ^ P. A. Samuelson (1938 February) “A Note on the Pure Theory of Consumer's Behaviour”, in Economica[2], volume 5, number 17, →DOI, page 61