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  Afriat 12/04/2019 01:12:PM
  Varian 12/04/2019 01:17:PM
Choi_2014.dta application/x-stata 167.6 KB 12/04/2019 08:19:AM
Data.xlsx application/vnd.openxmlformats-officedocument.spreadsheetml.sheet 1.3 MB 12/04/2019 01:52:AM
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Project Citation: 

Polisson, Matthew, Quah, John K.-H., and Renou, Ludovic. Data and Code for: Revealed Preferences over Risk and Uncertainty. Nashville, TN: American Economic Association [publisher], 2020. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2020-05-27.

Project Description

Summary:  View help for Summary We develop a nonparametric method called Generalized Restriction of Infinite Domains (GRID), for testing the consistency of budgetary choice data with models of choice under risk and under uncertainty.  Our test can allow for risk loving and elation seeking attitudes, or it can require risk aversion.  It can also be used to calculate, via Afriat's efficiency index, the magnitude of violations from a particular model.  We evaluate the performance of various models under risk (expected utility, disappointment aversion, rank dependent utility, and stochastically monotone utility) using data collected from several recent portfolio choice experiments.

Scope of Project

Subject Terms:  View help for Subject Terms expected utility; rank dependent utility; disappointment aversion; GARP; first order stochastic dominance; risk aversion; Afriat efficiency; intertemporal consumption
JEL Classification:  View help for JEL Classification
      C14 Semiparametric and Nonparametric Methods: General
      C60 Mathematical Methods; Programming Models; Mathematical and Simulation Modeling: General
      D11 Consumer Economics: Theory
      D12 Consumer Economics: Empirical Analysis
      D81 Criteria for Decision-Making under Risk and Uncertainty
Geographic Coverage:  View help for Geographic Coverage USA, Netherlands, Canada
Time Period(s):  View help for Time Period(s) 2007 – 2018
Collection Date(s):  View help for Collection Date(s) 2007 – 2018
Universe:  View help for Universe Choi et al. (2007) -- 93 subjects, undergraduate students at the University of California, Berkeley
Choi et al. (2014) -- 1,182 subjects, representative of the Dutch-speaking population of the Netherlands
Halevy, Persitz, and Zrill (2018) -- 207 subjects, primarily undergraduate students at the University of British Columbia
Data Type(s):  View help for Data Type(s) experimental data

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