Aggregation without the Aggravation? Nonparametric Analysis of the Representative Consumer

Abstract: In the tradition of Afriat (1967), Diewert (1973) and Varian (1982), we provide a revealed preference characterisation of the representative consumer. Our results are simple and complement those of Gorman (1953, 1961), Samuelson (1956) and others. They can also be applied to data very readily and without the need for auxilliary parametric or statistical assumptions. We investigate the application of our characterisation by means of a balanced microdata panel survey. Our findings provide robust evidence against the existence of a representative consumer for our data.

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Year of publication:	2011
Authors:	Cherchye, L.J.H. ; Crawford, I. ; de Rock, B. ; Vermeulen, F.M.P.
Institutions:	Tilburg University, Center for Economic Research
Subject:	revealed preference \| aggregation \| Gorman Polar Form \| GARP

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Extent:	application/pdf
Series:	Discussion Paper.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series CentER Discussion Paper Number 2011-143
Classification:	D10 - Household Behavior and Family Economics. General ; D30 - Distribution. General ; D60 - Welfare Economics. General ; E10 - General Aggregative Models. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10011091961