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Testing Utility Maximization with Measurement Errors in the Data

Författare:
Publiceringsår: 2009
Språk: Engelska
Sidor: 199-236
Publikation/Tidskrift/Serie: Advances in Econometrics
Volym: 24
Dokumenttyp: Artikel

Sammanfattning

Revealed preference axioms provide a simple way of testing data from consumers or firms for consistency with optimizing behavior. The resulting non-parametric tests are very attractive, since they do not require any ad hoc functional form assumptions. A weakness of such tests, however, is that they are non-stochastic. In this paper, we provide a detailed analysis of two approaches that can be used to derive non-parametric tests for utility maximization, which can account for measurement errors in observed price or quantity data.

Disputation

Nyckelord

  • Business and Economics
  • Non-Parametric Tests
  • GARP
  • Weak separability
  • Revealed Preference
  • Additive Separability
  • SARP
  • Measurement Errors

Övriga

  • Handelsbankens Research Foundation
Published
Yes
  • ISSN: 0731-9053

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