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Is Utility Transferable? A Revealed Preference Analysis

Cherchye, Laurens - 2011

We provide a revealed preference analysis of the transferable utility hypothesis, which is widely used in economic models. First, we establish revealed preference conditions that must be satisfied for observed group behavior to be consistent with Pareto efficiency under transferable utility....

Persistent link: https://www.econbiz.de/10013129058

The Joint Identification of Utility and Discount Functions from Stated Choice Data : An Application to Durable Goods Adoption

Dubé, Jean-Pierre - 2014

We present a survey design that generalizes static conjoint experiments to elicit inter-temporal adoption decisions for durable goods. We show that consumers' utility and discount functions in a dynamic discrete choice model are jointly identified using data generated by this specific design. In...

Persistent link: https://www.econbiz.de/10013065497

Is Utility Transferable? A Revealed Preference Analysis

Cherchye, Laurens; Demuynck, Thomas; Rock, Bram de - 2011

Persistent link: https://www.econbiz.de/10014185457

Is utility transferable? : a revealed preference analysis

Cherchye, Laurens; Demuynck, Thomas; Rock, Bram de - In: Theoretical economics : TE ; an open access journal in … 10 (2015) 1, pp. 51-65

The transferable utility hypothesis underlies important theoretical results in household economics. We provide a revealed preference framework for bringing this (theoretically appealing) hypothesis to observational data. We establish revealed preference conditions that must be satisfied for...

Persistent link: https://www.econbiz.de/10011674052

A lattice test for additive separability

Polisson, Matthew - 2018

We derive necessary and sufficient conditions for a finite data set of price and demand observations to be consistent with an additively separable preference. We do so without imposing concavity on any of the subutility functions or convexity of the budget set a priori, thereby generalizing...

Persistent link: https://www.econbiz.de/10011817571

Income elasticities without parameters

Hjertstrand, Per - 2020

This paper proposes a simple non-parametric framework to calculate income elasticities from a data set of observed prices and consumed quantities without having to estimate any parameters. The framework can be applied when the price-quantity data satisfies a revealed preference axiom called the...

Persistent link: https://www.econbiz.de/10012176128

Validating the Collective Model of Household Consumption Using Direct Evidence on Sharing

Bargain, Olivier - 2018

it makes welfare analysis at the individual level possible, the predictive power of the model is unknown. We propose the …

Persistent link: https://www.econbiz.de/10012909646

Validating the Collective Model of Household Consumption Using Direct Evidence on Sharing

Bargain, Olivier - 2018

it makes welfare analysis at the individual level possible, the predictive power of the model is unknown. We propose the …

Persistent link: https://www.econbiz.de/10012915057

Validating the Collective Model of Household Consumption Using Direct Evidence on Sharing

Bargain, Olivier - 2018

it makes welfare analysis at the individual level possible, the predictive power of the model is unknown. We propose the …

Persistent link: https://www.econbiz.de/10012914348

Non-parametric Engel curves and revealed preference

Blundell, Richard W.; Browning, Martin James; Crawford, Ian - 2001 - Revised May 2001

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 … which to examine the consistency of household level data and revealed preference theory. An application is made to a long …

Persistent link: https://www.econbiz.de/10011537533