How are preferences revealed?

被引：199

作者：

Beshears, John ^{[1
]}

Choi, James J. ^{[2
,4
]}

Laibson, David ^{[1
,4
]}

Madrian, Brigitte C. ^{[3
,4
]}

机构：

[1] Harvard Univ, Littauer Ctr, Dept Econ, Cambridge, MA 02138 USA

[2] Yale Univ, Sch Management, New Haven, CT 06520 USA

[3] Harvard Univ, John F Kennedy Sch Govt, Cambridge, MA 02138 USA

[4] NBER, Cambridge, MA 02138 USA

来源：

JOURNAL OF PUBLIC ECONOMICS | 2008年 / 92卷 / 8-9期

关键词：

revealed preferences; normative preferences; retirement savings; asset allocation; defined contribution pension plan;

D O I：

10.1016/j.jpubeco.2008.04.010

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Revealed preferences are tastes that rationalize an economic agent's observed actions. Normative preferences represent the agent's actual interests. It sometimes makes sense to assume that revealed preferences are identical to normative preferences. But there are many cases where this assumption is violated. We identify five factors that increase the likelihood of a disparity between revealed preferences and normative preferences: passive choice, complexity, limited personal experience, third-party marketing, and intertemporal choice. We then discuss six approaches that jointly contribute to the identification of normative preferences: structural estimation, active decisions, asymptotic choice, aggregated revealed preferences, reported preferences, and informed preferences. Each of these approaches uses consumer behavior to infer some property of normative preferences without equating revealed and normative preferences. We illustrate these issues with evidence from savings and investment outcomes. (C) 2008 Elsevier B.V. All rights reserved.

引用

页码：1787 / 1794

页数：8

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