Meaning of revealed preference | Babel Free

Definitions

1. A consumer preference as inferred from purchasing habits according to a theory invented by American economist Paul A. Samuelson.
   countable, uncountable
2. Samuelson's theory for inferring consumer preference from purchasing habits.
   uncountable

Equivalents

Examples

“Consumption theory in terms of revealed preference”

“Thus, we observe⟳ the elderly’s revealed preference for health plan⟳ combinations with different features.”

“Knowledge of expansion paths is shown to improve⟳ the power of nonparametric tests of revealed preference.”

“And how do you think⟳ about the arguably revealed preference of wealth leading to separation that might suggest⟳ this isn’t actually what people want⟳, maybe sometimes what they’re forced to accept⟳.”

“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.”

“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.”

“Most economists, however, are firmly rooted in the revealed preference paradigm to estimate⟳ the use⟳ values of environmental resources.”

CEFR level