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This paper provides a revealed preference characterisation of quasi-hyperbolic discounting which is designed to be …
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This paper presents a nonparametric analysis of a common class of intertemporal models of consumer choice that relax consumption independence. Within this class and in the absence of any functional form restrictions on instantaneous preferences, we compare the revealed preference conditions for...
Persistent link: https://www.econbiz.de/10009777680
This paper uses revealed preference restrictions and nonparametric statistical methods to bound true cost-of-living indices. These are compared to the popular price indices including the type used to calculated the UK RPI. This is used to assess the method of calculating the RPI for substitution...
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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...
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We provide a generalized revealed preference test for quasi-linear preferences. The test applies to nonlinear budget sets and nonconvex preferences and can be used in contexts such as taxation and nonlinear pricing. We use this test to evaluate the prevalence of quasi-linear preferences in a...
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In the tradition of Afriat (Int Econ Rev 8:67-77, 1967), Diewert (Rev Econ Stud 40:419-425, 1973) and Varian (Econometrica 50:945-972, 1982), we provide a revealed preference characterisation of exact linear aggregation. This guarantees that aggregate demand can be written as a function of...
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