Blomquist, Nils Sören; Kumar, Anil; Liang, Che-yuan; … - National Bureau of Economic Research - 2023
maximization with general heterogeneity, i.e. in the random utility model (RUM). We show that utility maximization and convex … restrictions of utility maximization on the budget set regression and show how to check these restrictions in applications. We … utility maximization at the values chosen for over 95% of observations, and that a productivity growth rate we estimate is …