A revealed preference approach to approximate utility maximisation
开发了一种显示偏好方法，研究选择可能不符合效用最大化的个体偏好，通过严格显示偏好的无环性检验数据是否可被近似效用最大化合理化。
We develop a revealed preference method for studying preferences of individuals whose choices may be inconsistent with utility maximisation. We show that acyclicity of the strict revealed preference is necessary and sufficient for the data to be rationalisable with approximate utility maximisation . In this model, an alternative is selected from a menu only if its utility is not significantly lower than that of any other available option. This allows us to test for consumer behaviour that is subject to imprecision, vagueness of judgement, or incommensurability, among others. Our results require minimal assumptions on the empirical framework, making them applicable to studies of choices over consumption bundles, state-contingent consumption, and lotteries.