The first-order-condition approach to revealed preference analysis
Channel: vectornomist
Date: 2021-01-28

We present the first theorem in Aguiar and Kashaev (2020), that produces a Afriat-like characterization of a collection of utility maximization models, with the main restriction that the utility function is concave. This cover as a special cases, the traditional static utility maximization model, the quasilinear model, and the exponential-discounting model of dynamic utility maximization. Many more models are covered by this methodology.