Showing 1 - 9 of 9
Past parametric tests of demand system rank employed polynomial Engel curve systems. However, by Gorman's (1981 …) theorem, the maximum possible rank of a utility derived polynomial demand system is three. The present paper proposes a class … of demand systems that are utility derived, are close to polynomial, and have rank four. These systems nest rational …
Persistent link: https://www.econbiz.de/10005102649
, asymptotically normal nonparametric estimators for the functions G and H, where r(v,z,w)=H[vG(z),w], and some related models. This …
Persistent link: https://www.econbiz.de/10004970572
Distortions in the elicitation of economic variables arise frequently. A common problem in household surveys is that reported values exhibit a significant degree of rounding. We interpret rounding as a filter that allows limited information about the relationship of interest to pass. We argue...
Persistent link: https://www.econbiz.de/10011123595
experimental design. This paper provides estimators for quantiles and conditional on X moments of W under both nonparametric and …
Persistent link: https://www.econbiz.de/10005053265
Microeconomic theory often yields models with multiple nonlinear equations, nonseparable unobservables, nonlinear cross equation restrictions, and many potentially multicollinear covariates. We show how statistical dimension reduction techniques can be applied in models with these features. In...
Persistent link: https://www.econbiz.de/10005027818
approach is entirely nonparametric, using Matzkin-type nonseparable models that nest a large class of potential structural … robust than means. Finally, we apply the main concepts put forward in this paper to real world data, and find evidence that …
Persistent link: https://www.econbiz.de/10008506226
This paper discusses new development in nonparametric econometric approaches related to empirical modeling of demand … nonparametric identification using nonseparable functions, semi-and nonparametric estimation approaches involving inverse problems …, and nonparametric testing approaches. We focus on classical consumer demand systems with continuous quantities, and do not …
Persistent link: https://www.econbiz.de/10008506228
. The test statistic we propose is based on kernel regression and extends nonparametric specification tests to systems of …
Persistent link: https://www.econbiz.de/10008506229
Rationality places strong restrictions on individual consumer behavior. This paper is concerned with assessing the validity of the integrability constraints imposed by standard utility maximization, arising in classical consumer demand analysis. More specifically, we characterize the testable...
Persistent link: https://www.econbiz.de/10008506231