Data and Code for: Revealed Preferences over Risk and Uncertainty

  • Matthew Polisson (Creator)
  • John K.-H. Quah (Creator)
  • Ludovic Renou (Creator)

Dataset

Description

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.
Date made available2020
PublisherICPSR - Interuniversity Consortium for Political and Social Research
Date of data production1 Jan 2007 - 31 Dec 2018
Geographical coverageUSA, Netherlands, Canada
  • Revealed Preferences over Risk and Uncertainty

    Polisson, M., Quah, J. K-H. & Renou, L., 1 Jun 2020, In: American Economic Review. 110, 6, p. 1782-1820 39 p.

    Research output: Contribution to journalArticle (Academic Journal)peer-review

    Open Access
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    20 Citations (Scopus)
    256 Downloads (Pure)

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