revealed preference
Word Rarity
Uncommon
Frequency: Zipf frequency 4.00 in modern English
29
Scrabble Score
18
Letters
4
Syllables
10
Unique Chars
Meaning
noun
A consumer preference as inferred from purchasing habits according to a theory invented by American economist Paul A. Samuelson.
Countable; Uncountable
Example Sentences
- "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."
- "And how do you think about the arguably revealed preference of wealth leading to separation that might suggest this isn’t actually what people want, maybe sometimes what they’re forced to accept."
- "This paper documents the revealed preferences of U.S. open-end mutual funds for various stock characteristics."
- "We show that if psychological preferences are incomplete then revealed preferences can be intransitive without exposing agents to manipulations or violating outcome rationality."
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.