agent models of modern macroeconomics and monetary economics. These assumptions are utility maximization and weak or … consistent with utility maximization and weak separability. That is, the assets in these measures do not meet the requirement for … forming an aggregate over goods that is consistent with economic theory.Finally, we find that three broad categories of …

Since Paul Samuelson introduced the theory of revealed preference, it has become one of the most important concepts in …, which provides the conditions for a data set to be consistent with the utility maximization hypothesis. We provide and …

which each pairwise choice is associated with a "local" utility function. We develop its associated weak revealed …-preference theory. We show that preference recoverability and welfare analysis à la Varian (1982) may not be informative enough, when … the weak axiom holds, but when consumers are not utility maximizers. We clarify the reasons for this failure and provide …

theory environments with finite data. We propose a new behavioral axiom, Acyclic Enticement (AE), that requires the …, is logically equivalent to AE and WARP. We propose a new notion of rationalization by means of a price-dependent utility …

which each pairwise choice is associated with a local utility function. We develop its associated revealed-preference theory … weak axiom holds but when consumers are not utility maximizers. In addition, we show that counterfactual analysis may fail … restrictions to the "local" utility functions, we obtain new characterizations of the choices of the Shafer (1974) nontransitive …

preference function. Its cardinal rationalization uses a coalitional multi- utility (CMU) maxmin representation with a coherency … maker (multiple rationales without preference reversals that allow for transitivity violations). Basic consumer theory and …

model of choice. We evaluate the performance of different models (including expected utility, disappointment aversion, rank … dependent utility, mean-variance utility, and stochastically monotone utility) in the data collected by Choi et al. (2007), in …