APPLICATION OF REVEALED PREFERENCES METHODOLOGY FOR TESTING RATIONAL BEHAVIOR OF RURAL HOUSEHOLDS

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HOMAYOUNIFAR M.; TAVANA H.

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Journal Paper

Paper Information

Journal: JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH) Year:2008 | Volume:8 | Issue:2 Page(s): 119-132

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Information Journal Paper

Title

APPLICATION OF REVEALED PREFERENCES METHODOLOGY FOR TESTING RATIONAL BEHAVIOR OF RURAL HOUSEHOLDS

Author(s)

HOMAYOUNIFAR M. | TAVANA H. | Issue Writer Certificate

Keywords

GENERALIZED AXIOM OF REVEALED PREFERENCEQ3

NEOCLASSICAL UTILITY FUNCTIONQ3

AFRIAT THEOREMQ3

GENERALIZED AFRIAT INDEXQ3

Abstract

Consumer behavior analysis is a fundamental issue in economics. The most prominent methodology that economists use to attribute preferences according to this principle is the revealed preference concept. Therefore, NEOCLASSICAL UTILITY FUNCTION is capable to test the rational behavior hypothesis of consumer.In this paper, we formalize a method of revealed preferences in place of NEOCLASSICAL UTILITY FUNCTION to test the hypothesis of rational behavior using the Iranian rural households' consumption data over the period 1982-2005.According to results, we didn't detect any violations in the whole consumption data. But in agriculture commodities group, we detected 4 violations using GENERALIZED AFRIAT INDEX ascribed to measurement error.overall, the findings of the study confirm the hypothesis of rational behavior.Thus, there exists a utility function that is non-satiated, continuous, monotonic, and concave that rationalizes the consumption data of rural households in Iran.

Cites

WAGE GAP BETWEEN AGRICULTURAL AND NON-AGRICULTURAL LABOR FORCE IN IRAN

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APA: Copy

HOMAYOUNIFAR, M., & TAVANA, H.. (2008). APPLICATION OF REVEALED PREFERENCES METHODOLOGY FOR TESTING RATIONAL BEHAVIOR OF RURAL HOUSEHOLDS. JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH), 8(2), 119-132. SID. https://sid.ir/paper/86427/en

Vancouver: Copy

HOMAYOUNIFAR M., TAVANA H.. APPLICATION OF REVEALED PREFERENCES METHODOLOGY FOR TESTING RATIONAL BEHAVIOR OF RURAL HOUSEHOLDS. JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH)[Internet]. 2008;8(2):119-132. Available from: https://sid.ir/paper/86427/en

IEEE: Copy

M. HOMAYOUNIFAR, and H. TAVANA, “APPLICATION OF REVEALED PREFERENCES METHODOLOGY FOR TESTING RATIONAL BEHAVIOR OF RURAL HOUSEHOLDS,” JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH), vol. 8, no. 2, pp. 119–132, 2008, [Online]. Available: https://sid.ir/paper/86427/en

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