Showing 1 - 4 of 4
We derive necessary and suffcient conditions for data sets composed of state-contingent prices and consumption to be consistent with two prominent models of decision making under ambiguity: variational preferences and smooth ambiguity. The revealed preference conditions for the maxmin expected...
Persistent link: https://www.econbiz.de/10010548251
This paper compares the goods and characteristics models of the consumer within a non-parametric revealed preference framework. Of primary interest is to make a comparison on the basis of predictive success that takes into account dimension reduction. This allows us to nonparametrically identify...
Persistent link: https://www.econbiz.de/10009293086
This paper presents a nonparametric analysis of intertemporal models of consumer choice that relax consumption independence. We compare the revealed preference conditions for the intertemporally nonseparable models of rational habit formation and rational anticipation. We show that these models...
Persistent link: https://www.econbiz.de/10010686204
Consider a finite data set where each observation consists of a bundle of contingent consumption chosen from a constraint set of contingent consumption bundles. We develop a general procedure for testing the consistency of such a data set with a broad class of models of choice under risk or...
Persistent link: https://www.econbiz.de/10010721429