Showing 1 - 8 of 8
Persistent link: https://www.econbiz.de/10005332457
We analyze under which conditions a given vector field can be disaggregated as a linear combination of gradients. This problem is typical of aggregation theory, as illustrated by the literature on the characterization of aggregate market demand and excess demand. We argue that exterior...
Persistent link: https://www.econbiz.de/10005231630
Consider a group consisting of S members facing a common budget constraint p'xi=1: any demand vector belonging to the budget set can be (privately or publicly) consumed by the members. Although the intragroup decision process is not known, it is assumed to generate Pareto-efficient outcomes;...
Persistent link: https://www.econbiz.de/10004998020
The authors examine the effects of male and female labor supply on household demands and present a simple and robust test for the separability of demands from labor supply. Using data on individual households from six years of the U.K. Family Expenditure Survey, they estimate a demand system for...
Persistent link: https://www.econbiz.de/10005699788
Persistent link: https://www.econbiz.de/10005702338
This paper uses revealed preference inequalities to provide the tightest possible (best) nonparametric bounds on predicted consumer responses to price changes using consumer-level data over a finite set of relative price changes. These responses are allowed to vary nonparametrically across the...
Persistent link: https://www.econbiz.de/10005231738
This paper applies revealed preference theory to the nonparametric statistical analysis of consumer demand. Knowledge of expansion paths is shown to improve the power of nonparametric tests of revealed preference. The tightest bounds on indifference surfaces and welfare measures are derived...
Persistent link: https://www.econbiz.de/10005332166
Persistent link: https://www.econbiz.de/10012097896