Testing consumer theory : evidence from a natural field experiment

Maja Adena, Steffen Huck, Imran Rasul

We present evidence from a natural field experiment designed to shed light on whether individual behavior is consistent with a neoclassical model of utility maximization subject to budget constraints. We do this through the lens of a field experiment on charitable giving. We find that the behavior of at least 80% of individuals, on both the extensive and intensive margins, can be rationalized within a standard neoclassical choice model in which individuals have preferences, defined over own consumption and their contribution towards the charitable good, satisfying the axioms of revealed preference.

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Year of publication:	28 November 2017
Authors:	Adena, Maja ; Huck, Steffen ; Rasul, Imran
Publisher:	[Kiel : ZBW
Subject:	natural field experiment \| revealed preference \| Feldforschung \| Field research \| Experiment \| Offenbarte Präferenzen \| Revealed preferences \| Zahlungsbereitschaftsanalyse \| Willingness to pay \| Konsumentenverhalten \| Consumer behaviour

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