Economie expérimentale et modèle intertemporel du consommateur

This paper reports the results of an experiment on the intertemporal model of consumer behavior with perfect foresight. A test using the theory of revealed preference show that a significant number of individuals have an inconsistent behavior. However, the average data are consistent with the behavior of a representative consumer. The estimation of the elasticity of intertemporal substitution shows that a rise in the interest rate has an important effect on consumption. Earlier findings using average cohort data are confirmed.