Is utility transferable? A revealed preference analysis
提出一个显示性偏好框架,检验家庭消费行为是否与可转移效用假设一致,并通过整数规划方法进行实证检验。
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.