scholarly journals How Demanding Is the Revealed Preference Approach to Demand?

2011 ◽  
Vol 101 (6) ◽  
pp. 2782-2795 ◽  
Author(s):  
Timothy K. M Beatty ◽  
Ian A Crawford
Keyword(s):  
Economic Theory ◽  
Revealed Preference ◽  
Axiomatic Characterization ◽  
Predictive Success ◽  
Empirical Performance ◽  
Revealed Preference Approach

A well-known problem with revealed preference methods is that when data are found to satisfy their restrictions it is hard to know whether this should be viewed as a triumph for economic theory, or a warning that these conditions are so undemanding that almost anything goes. This paper allows researchers to make this distinction. Our approach uses an axiomatic characterization of a measure of predictive success due to Selten (1991). We illustrate the idea using a panel dataset. The results show that this approach can lead us to radically reassess our view of the empirical performance of economic theory. JEL: D11, D12

Hypothesis Tests and Corroboration

2019 ◽  
pp. 227-260
Author(s):  
Jan Sprenger ◽  
Stephan Hartmann
Keyword(s):  
Hypothesis Testing ◽  
Scientific Knowledge ◽  
Statistical Significance ◽  
Axiomatic Characterization ◽  
Hypothesis Tests ◽  
Predictive Success ◽  
Impossibility Results ◽  
Philosophical Challenge

According to Popper and other influential philosophers and scientists, scientific knowledge grows by repeatedly testing our best hypotheses. However, the interpretation of non-significant results—those that do not lead to a “rejection” of the tested hypothesis—poses a major philosophical challenge. To what extent do they corroborate the tested hypothesis or provide a reason to accept it? In this chapter, we prove two impossibility results for measures of corroboration that follow Popper’s criterion of measuring both predictive success and the testability of a hypothesis. Then we provide an axiomatic characterization of a more promising and scientifically useful concept of corroboration and discuss implications for the practice of hypothesis testing and the concept of statistical significance.

An Axiomatic Characterization of a Class of Petri Nets

1991 ◽  
Vol 14 (4) ◽  
pp. 477-491
Author(s):  
Waldemar Korczynski
Keyword(s):  
Petri Nets ◽  
Petri Net ◽  
Axiomatic Characterization ◽  
Algebraic Characterization

In this paper an algebraic characterization of a class of Petri nets is given. The nets are characterized by a kind of algebras, which can be considered as a generalization of the concept of the case graph of a (marked) Petri net.

scholarly journals Axiomatization and Measurement of Quasi-Hyperbolic Discounting *

2014 ◽  
Vol 129 (3) ◽  
pp. 1449-1499 ◽  
Author(s):  
José Luis Montiel Olea ◽  
Tomasz Strzalecki
Keyword(s):  
Hyperbolic Discounting ◽  
Partial Identification ◽  
Axiomatic Characterization ◽  
Discount Factors ◽  
Elasticity Of Intertemporal Substitution ◽  
Trade Offs ◽  
Subject Pool ◽  
Identification Approach ◽  
The Subject

Abstract This article provides an axiomatic characterization of quasi-hyperbolic discounting and a more general class of semi-hyperbolic preferences. We impose consistency restrictions directly on the intertemporal trade-offs by relying on what we call “annuity compensations.” Our axiomatization leads naturally to an experimental design that disentangles discounting from the elasticity of intertemporal substitution. In a pilot experiment we use the partial identification approach to estimate bounds for the distributions of discount factors in the subject pool. Consistent with previous studies, we find evidence for both present and future bias.

scholarly journals Axiomatic characterization of the interval function of a graph

2009 ◽  
Vol 30 (5) ◽  
pp. 1172-1185 ◽  
Author(s):  
Henry Martyn Mulder ◽  
Ladislav Nebeský
Keyword(s):  
Axiomatic Characterization ◽  
Interval Function
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