Revealed Preferences of Groups of Agents

Student: Kuzmin Anton

Educational Programme: Applied Economics (Master)

Final Grade: 7

Year of Graduation: 2019

Cosaert S. showed in his work (Cosaert S., 2016) that the inclusion of preferences for value of goods in a unitary model of revealed preferences helps to improve its empirical results. This paper presents a collective model of revealed preferences, taking into account preferences for value of goods. The corresponding conditions of GARP were derived and it was shown that they are both necessary and sufficient conditions for collective rationalization. The general model isn't practically applicable due to its complexity. To account for this a new, less general collective model was introduced. Its use on real data (RLMS) was also demonstrated.

Full text (added May 30, 2019)

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