Is utility transferable? A revealed preference analysis

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.

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Year of publication:	2015-01
Authors:	De Rock, Bram ; Cherchye, Laurens ; Demuynck, Thomas
Institutions:	Solvay Brussels School of Economics and Management, Université Libre de Bruxelles
Subject:	Generalized Quasilinearity \| Household Consumption \| Nonparametric Tests \| Revealed Preferences \| Transferable Utility Hypothesis

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Series:	ULB Institutional Repository.
Type of publication:	Book / Working Paper
Notes:	SCOPUS: ar.j Published in: Theoretical Economics (2015) v.10 n° 1,p.51-65
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011240757