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Nonparametric tests of collectively rational consumption behavior: an integer programming procedure
[journal article]
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 Surve... view more
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.... view less
Classification
Economics
Free Keywords
Collective consumption model; Revealed preferences; Nonparametric rationality tests; Integer programming (IP)
Document language
English
Publication Year
2008
Page/Pages
p. 258-265
Journal
Journal of Econometrics, 147 (2008) 2
DOI
https://doi.org/10.1016/j.jeconom.2008.09.010
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)