REVEALED PREFERENCES IN A HETEROGENEOUS POPULATION

• 成果类型: Article
• 署名作者: Hoderlein, Stefan; Stoye, Joerg
• 署名单位: Boston College; Cornell University
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/REST_a_00397
• 发表日期: 2014-05
• 页码: 197-213
• 关键词: confidence-intervals; weak axiom; bounds; THEOREM

摘要

This paper explores the empirical content of the weak axiom of revealed preference (WARP) for repeated cross-sections. In a heterogeneous population, the fraction of consumers who violate WARP is not point identified but can be bounded. These bounds, as well as some nonparametric refinements, correspond to intuitive behavioral assumptions if there are two goods. With three or more goods, such intuitions break down, and plausible assumptions can have counterintuitive implications. We also provide estimators and confidence regions. The empirical application reveals that in the British Family Expenditure Survey, upper bounds are frequently positive but lower bounds are not significantly so.