Revealed Preferences for Diamond Goods

• 成果类型: Article
• 署名作者: Cosaert, Sam
• 署名单位: KU Leuven
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MICROECONOMICS
• ISSN/ISSBN: 1945-7669
• DOI: 10.1257/mic.20150168
• 发表日期: 2018
• 页码: 83-117
• 关键词: compensated demand curves; Conspicuous consumption; unchanged diamondness; positional concerns; consumer theory; BEHAVIOR; taxation; household; anomalies; others

摘要

When consumers care not only for the quantity but also the value of a product, it could he rational to purchase products as they become more expensive. This study provides nonparametric revealed preference-conditions to measure consumers' marginal willingness to pay for value (i.e., diamondness) associated with particular goods. This is the first nonparametric test of price-dependent preferences. The proposed diamondness measure is applied to observational data from the Russia Longitudinal Monitoring Survey. The results show that this diamondness measure is related to a product's visibility to society, which indicates a certain degree of conspicuous consumption.