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A Monte Carlo Study of the Necessary and Sufficienct Conditions for Weak Separability

Författare

  • Per Hjertstrand

Summary, in English

Weak separability is an important concept in many fields of economic theory. This chapter uses Monte Carlo experiments to investigate the performance of newly developed nonparametric revealed preference tests for weak separability. A main finding is that the bias of the sequentially implemented test for weak separability proposed by Fleissig and Whitney (2003) is low. The theoretically unbiased Swofford and Whitney test (1994) is found to perform better than all sequentially implemented test procedures but is found to suffer from an empirical bias, most likely because of the complexity in executing the test procedure. As a further source of information, we also perform sensitivity analyses on the nonparametric revealed preference tests. It is found that the Fleissig and Whitney test seems to be sensitive to measurement errors in the data.

Publiceringsår

2009

Språk

Engelska

Sidor

151-182

Publikation/Tidskrift/Serie

Advances in Econometrics

Volym

24

Dokumenttyp

Artikel i tidskrift

Förlag

Elsevier

Ämne

  • Economics

Status

Published

ISBN/ISSN/Övrigt

  • ISSN: 0731-9053