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Measuring tastes for equity and aggregate wealth behind the veil of ignorance
Heufer, Jan; Shachat, Jason M.; Xu, Yan - 2018
ignorance. We pair portfolio and wealth distribution choice problems which have a common budget set. For a given bundle, the … distribution over an individual's wealth is the same for both problems. The portfolio choice serves as a benchmark to evaluate … whether the wealth distribution choice exhibits equity or efficiency preferring tastes. We report experiments using a within …
Persistent link: https://www.econbiz.de/10011928322
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Inconsistent and lexicographic choices in stated preference analysis
Rouwendal, Jan; Blaeij, Adriana Tanneke de - 2004
In stated choice (SC) data inconsistent and lexicographic choice behavior is often observed. It is sometimes … data many respondents have inconsistent choice patterns, which appear to be due to incidental mistakes. Moreover, a large … number of the consistent respondents have lexicographic choice patterns. We show that the logit model, which is the most …
Persistent link: https://www.econbiz.de/10011335227
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Inconsistent and lexicographic choices in stated preference analysis
Rouwendal, Jan; Blaeij, Arianne T. de - 2004
Persistent link: https://www.econbiz.de/10002026424
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Gigerenzer the decided : a tale of difficult distinctions
Heukelom, Floris - 2005
This paper provides an overview of the work of Gigerenzer, thereby focusing on his criticisms of the Heuristics and Biases theory of Kahneman and Tversky. It is proposed that Gigerenzer's work can be both thematically and chronologically organized as: historical research on statistics =...
Persistent link: https://www.econbiz.de/10011348361
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Homothetic efficiency and test power : a non-parametric approach
Heufer, Jan; Hjertstrand, Per - 2015
We provide a nonparametric revealed preference approach to demand analysis based on homothetic efficiency. Homotheticity is a useful restriction but data rarely satisfies testable conditions. To overcome this we provide a way to estimate homothetic efficiency of consumption choices. It...
Persistent link: https://www.econbiz.de/10010532589
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Stick to the plan? : a revealed-preference study of behavioural impacts of traffic information
Tseng, Yin-Yen; Knockaert, Jasper; Verhoef, Erik T. - 2010 - This version: 14/07/10
We estimate a revealed-preference scheduling model of morning peak behaviour that allows us to determine the impact of traffic information on traveller behaviour. Specifically, we distinguish between the marginal impact of expected travel times versus that of deviations from this expectation...
Persistent link: https://www.econbiz.de/10011381015
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A comment on revealed preference with a subset of goods
Bruggen, Paul van - 2016
Varian (1988) introduced an important proposition regarding restrictions on consumption data if observations of the quantities of a good are missing. In this paper, a simple counterexample is presented to show that the original proof is incorrect, and a new proof is provided. The new proof is...
Persistent link: https://www.econbiz.de/10011531115
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Afriat in the lab
Heufer, Jan; Bruggen, Paul van - 2016
Varian (1988) showed that the utility maximization hypothesis cannot be falsified when only a subset of goods is observed. We show that this result does not hold under the assumptions that unobserved prices and expenditures remain constant. These assumptions are naturally satisfied in laboratory...
Persistent link: https://www.econbiz.de/10011563010
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Homothetic preferences revealed
Heufer, Jan; Hjertstrand, Per - 2017
We propose a method to recover homothetic preferences from choice data with minor optimization or measurement errors …
Persistent link: https://www.econbiz.de/10011773009
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Booms, busts and behavioural heterogeneity in stock prices
Hommes, Cars H.; Veld, Daan in't - 2015 - This draft: July 2015
We empirically evaluate a behavioural model with boundedly rational traders who disagree about the persistence of deviations from the fundamental stock price. Fundamentalist traders believe in mean-reversion, while chartists extrapolate trends. Agents gradually switch between the two rules,...
Persistent link: https://www.econbiz.de/10011301214