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Nonparametric tests of collectively rational consumption behavior: an integer programming procedure

[Zeitschriftenartikel]

Cherchye, Laurens; Rock, Bram de; Sabbe, Jeroen; Vermeulen, Frederic

Zitationshinweis

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Abstract We present an IP-based nonparametric (revealed preference) testing procedure for rational consumption behavior in terms of a general collective model, which includes consumption externalities and public consumption. An empirical application to data drawn from the Russia Longitudinal Monitoring Survey (RLMS) demonstrates the practical usefulness of the procedure. Finally, we present extensions of the testing procedure to evaluate the goodness-of-fit (accounting for optimization error as well as measurement error) of the collective model subject to testing.
Klassifikation Wirtschaftswissenschaften
Freie Schlagwörter Collective consumption model; Revealed preferences; Nonparametric rationality tests; Integer programming (IP)
Sprache Dokument Englisch
Publikationsjahr 2008
Seitenangabe S. 258-265
Zeitschriftentitel Journal of Econometrics, 147 (2008) 2
DOI http://dx.doi.org/10.1016/j.jeconom.2008.09.010
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)
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