On Testing the Utility Hypothesis
Bibliographic Data
| ID | 9706993 |
|---|---|
| Authors | James C Cox (0000-0002-8614-9986, University of Arizona, corresponding author) |
| Year | 1997 |
| Volume | 107 |
| Issue | 443 |
| Pages | 1054-1078 |
| Publication date | 1997-07-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.1997.tb00007.x |
| OpenAlex | W2047010278 |
| Language | EN |
| Citations received | 11 |
| References cited | 29 |
In order to be able to conduct a test of the (core) utility hypothesis that is not confounded with tests of (subsidiary) hypotheses that economic agents all have the same preferences and that their preferences are weakly separable, it is necessary to use data that are disaggregated and complete. In order to carry out a utility hypothesis test with complete data, revealed preference theory must first be extended. The generalised axiom of revealed preference is extended to include labour supply and portfolio choice. Then a complete, disaggregated data set is used to test the utility hypothesis and two preference separability hypotheses
Alternative hypothesis · Axiom · Core (optical fiber · Econometrics · Economics · Expected utility hypothesis · Financial economics · Mathematical economics · Microeconomics · Null hypothesis · Order (exchange · Portfolio · Preference · Preference relation · Preference theory · Revealed preference · Set (abstract data type · Statistical hypothesis testing · Statistics · Test (biology · Computer Science · Economic theories and models · Economics of Agriculture and Food Markets · Mathematics · Monetary Policy and Economic Impact
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| Citations per year | 0.38 |
|---|---|
| Citation span | 1997 - 2019 (23) |
| Highly cited | No |