The demonstration by Smith [1962] that prices and allocations quickly converge to the competitive equilibrium in the continuous double auction (CDA) was one of the first – and remains one of the most important results in experimental economics. His initial experiment, subsequent market...

We provide two methods to compute the largest subset of a set of observations that is consistent with the Generalised Axiom of Revealed Preference. The algorithm provided by Houtman and Maks (1985) is not comput ationally feasible for larger data sets, while our methods are not limited in that...

We provide two methods to compute the largest subset of a set of observations that is consistent with the Generalised Axiom of Revealed Preference. The algorithm provided by Houtman and Maks (1985) is not computationally feasible for larger data sets, while our methods are not limited in that...

This article provides a robust non-parametric approach to demand analysis based on a concept called homothetic efficiency. Homotheticity is a useful restriction or assumption but data rarely satisfy testable conditions. To overcome this problem, this article provides a way to estimate homothetic...

We provide a framework to decompose preferences into a notion of distributive justice and a selfishness part and to recover individual notions of distributive justice from data collected in appropriately designed experiments. "Dictator games" with varying transfer rates used in Andreoni and...

It is shown that for two dimensional commodity spaces any homothetic utility function that rationalizes each pair of observations in a set of consumption data also rationalizes the entire set. The result is used to provide a simplified nonparametric test for homotheticity of demand and a measure...

It is shown that a fundamental question of revealed preference theory, namely whether the weak axiom of revealed preference (WARP) implies the strong axiom of revealed preference (SARP), can be reduced to a Hamiltonian cycle problem: A set of bundles allows a preference cycle of irreducible...

We provide an efficient way to generate random choices which are consistent with utility maximisation. They are drawn from an approximate uniform distribution on the admissible region on each budget based on a Markovian Monte Carlo algorithm due to Smith (Oper Res 32(6):1296–1308, <CitationRef CitationID="CR11">1984</CitationRef>). This...</citationref>