Econometrica Vol. 89 No. 4 2021

Recovering Preferences From Finite Data

Christopher P. Chambers¹; Federico Echenique²; Nicolas Lambert³

¹ Department of Economics, Georgetown University · ² Division of the Humanities and Social Sciences, California Institute of Technology · ³ Department of Economics, Massachusetts Institute of Technology

Abstract

We study preferences estimated from finite choice experiments and provide sufficient conditions for convergence to a unique underlying “true” preference. Our conditions are weak and, therefore, valid in a wide range of economic environments. We develop applications to expected utility theory, choice over consumption bundles, and menu choice. Our framework unifies the revealed preference tradition with models that allow for errors.

DOI

10.3982/ecta17845

Volume

89

Issue

4

Pages

1633-1664

Language

en

Sources

bibtex:phds-export.bib openalex crossref

Cite

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