题目： On Integrability and Changing Tastes

报告人: Wei Xiao (Researcher, Fudan University)

时间：2017年4月25日（周二） 1：30 pm

地点：国际经管学院会议室（诚明楼三层）

主办方：国际经济管理学院

摘要：

The classic integrability problem asks (i) what conditions guarantee that demand functions can be rationalized by a well-behaved utility function and (ii) if such a utility exists, how can it be recovered.  Hurwicz and Uzawa (1971) provided answers to both questions.  However for the popular case of changing tastes, as represented by a sequence of non-nested utilities, the Hurwicz and Uzawa conditions fail to hold in general. For given dynamic demands, we provide necessary and sufficient conditions such that the demands can be rationalized by a sequence of utilities following sophisticated choice. The testable implications, including intuitive Slutsky symmetry restrictions, represent a natural extension of those in Hurwicz and Uzawa (1971).  We also give sufficient conditions for rationalizing naive demands.

Biography

韦潇， 2003年中国科学技术大学少年班系本科毕业，2010年获美国哥伦比亚大学(Columbia University)物理学博士学位。2012年至今担任美国宾夕法尼亚大学沃顿商学院施奈德创业研究中心(Sol C. Snider Entrepreneurial Research Center, the Wharton School, University of Pennsylvania)访问学者。过去多年致力于微观经济学理论的研究，研究课题涵盖未定权益理论，偏好改变理论，不确定环境下的效用函数理论等领域。研究成果在American Economic Review, American Economic Journal: Microeconomics, the Economic Journal等经济学期刊发表。个人主页：http://www.econ.fudan.edu.cn/teacherdetail.php?tid=209