Asset Demand Based Tests of Expected Utility Maximization
研究了或有债权和资产需求与状态独立的期望效用最大化一致的条件，提出了三种检验方法，包括显示偏好公理、需求函数形式刻画和斯拉茨基矩阵条件。
We provide conditions under which contingent claim and asset demands are consistent with state independent Expected Utility maximization. The paper focuses on the case of a single commodity and demands are allowed to be functions of probabilities and not just prices and income. We extend prior analyses by deriving three distinct tests for demands to be rationalized by Expected Utility: (i) a contingent claim analogue to the certainty strong axiom of revealed preference, (ii) a characterization of the functional form for demand, and (iii) necessary and sufficient conditions based on the Slutsky matrix.