Editing Ordinal utility (section)

=== Revealed preference ===

[[Revealed preference theory]] addresses the problem of how to observe ordinal preference relations in the real world. The challenge of revealed preference theory lies in part in determining what goods bundles were foregone, on the basis of them being less liked, when individuals are observed choosing particular bundles of goods.<ref>{{cite conference
| title =         Revealed Preference Theory
| author=     Chiaki Hara
| date=         6 June 1998
| book-title= 7th Toiro-kai meeting (1997/1998)
| url=            http://www.societies.cam.ac.uk/cujif/ABSTRACT/980606.htm
}}</ref>
<ref>{{cite journal
 |title       = Mistakes in Choice-Based Welfare Analysis
 |author      = Botond Koszegi
 |author2     = Matthew Rabin
 |journal     = American Economic Review: Papers and Proceedings
 |volume      = 97
 |issue       = 2
 |pages       = 477–481
 |date        = May 2007
 |url         = http://elsa.berkeley.edu/~botond/mistakeschicago.pdf
 |url-status     = dead
 |archive-url  = https://web.archive.org/web/20081015203300/http://elsa.berkeley.edu/~botond/mistakeschicago.pdf
 |archive-date = 2008-10-15
|doi      = 10.1257/aer.97.2.477
 |citeseerx      = 10.1.1.368.381
 }}</ref>