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revealed preference

noun

Etymology

Coined by American economist Paul Samuelson in the title of his 1948 paper expounding a theory for inferring consumer preference from purchasing habits. Samuelson first published a version of his theory ten years earlier, in a 1938 paper, but did not use the term revealed preference in the 1938 paper.

Definitions

  1. A consumer preference as inferred from purchasing habits according to a theory invented…

    A consumer preference as inferred from purchasing habits according to a theory invented by American economist Paul A. Samuelson.

    • Consumption theory in terms of revealed preference
    • Thus, we observe the elderly’s revealed preference for health plan combinations with different features.
    • Knowledge of expansion paths is shown to improve the power of nonparametric tests of revealed preference.

  2. Samuelson's theory for inferring consumer preference from purchasing habits.

    • This paper reports on an attempt to apply revealed preference to the activities of the federal government to determine the weights it attached to various macro policy goals during the Eisenhower and Kennedy-Johnson administrations.
    • Most economists, however, are firmly rooted in the revealed preference paradigm to estimate the use values of environmental resources.

The neighborhood

Vish — recursive loop

No curated loop yet for revealed preference. Loops are being traced one word at a time while the ingestion pipeline matures.

sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA