GARP violation, economic environment distortions and shadow prices : Evidence from household expenditure panel data.

This paper contributes to the discussion of the compatibility of consumers' behavior in "real" life with GARP. Within expenditure panel data we observe a relatively low rate of violation (240 out of 3630 households). We show that these violations do not imply an "irrational" behavior of the agents, but can be attributed to a change in the agents' choice conditions during a period of time, which includes a shift from a centrally planned towards a market oriented economy.

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Year of publication:	2009-04
Authors:	Diaye, Marc-Arthur ; Gardes, François ; Starzec, Christophe
Institutions:	Centre d'Économie de la Sorbonne, Université Paris 1 (Panthéon-Sorbonne)
Subject:	GARP \| shadow prices

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Extent:	application/pdf
Series:	Documents de travail du Centre d'Economie de la Sorbonne. - ISSN 1955-611X.
Type of publication:	Book / Working Paper
Notes:	38 pages
Classification:	C14 - Semiparametric and Nonparametric Methods ; D11 - Consumer Economics: Theory ; D12 - Consumer Economics: Empirical Analysis
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005012518