Mutually Consistent Revealed Preference Demand Predictions
نویسندگان
چکیده
منابع مشابه
Improving Revealed Preference Bounds on Demand Responses
There are three key dimensions by which revealed preference bounds on consumer demand responses to price variation can be improved. The first relates to the improvements that arise from using expansion paths for given relative prices, E-bounds. The second concerns the addition of new price information. Thirdly, there are improvements due to assuming separability. Our previous research has exami...
متن کاملHow Demanding Is the Revealed Preference Approach to Demand?
A well known problem with revealed preference methods is that when data are found to satisfy their restrictions it is hard to know whether this should be viewed as a triumph for economic theory, or a warning that these conditions are so undemanding that almost anything goes. This paper allows researchers to make this distinction. Our approach builds on theoretical support in the form of an axio...
متن کاملRevealed Preference and Stochastic Demand Correspondence: A Unified Theory
We expand the theory of consumer’s behavior, based on the Weak Axiom of Revealed Preference, to permit simultaneously both random choice and choice sets, which are not singletons. We provide a consistency postulate for demand behavior when such behavior is represented in terms of a stochastic demand correspondence. We show that, when the consumer spends her entire wealth, our rationality postul...
متن کاملCombining Revealed and Stated Preference Data to Estimate Recreation Demand
I wish to thank several people for their guidance and assistance. First, I thank V. Kerry Smith, Michael Hanemann, Cathy Kling, Ju-Chin Huang, and Nathan Knust for expanding my understanding and encouraging my exploration. I thank Don Lien and De-Min Wu for their statistical guidance and David Popp for his editorial guidance. I thank Todd Abplanalp and Marian Martinez-Pais for their excellent r...
متن کاملBounding quantile demand functions using revealed preference inequalities
This paper develops a new approach to the estimation of consumer demand models with unobserved heterogeneity subject to revealed preference inequality restrictions. Particular attention is given to nonseparable heterogeneity. The inequality restrictions are used to identify bounds on counterfactual demand. A nonparametric estimator for these bounds is developed and asymptotic properties are der...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: American Economic Journal: Microeconomics
سال: 2020
ISSN: 1945-7669,1945-7685
DOI: 10.1257/mic.20150216