Showing 1 - 10 of 199
Dutch DNB Household Survey. We conduct a nonparametric analysis that avoids the distortive impact of an erroneously …
Persistent link: https://www.econbiz.de/10010267486
We provide a nonparametric 'revealed preference' characterization of rational household behavior in terms of the … nature of consumption externalities (positive or negative) in the intra-household allocation process is non-testable. The …, monotonicity is testable for the model that assumes all household consumption is public. …
Persistent link: https://www.econbiz.de/10010269151
household. We further propose a novel approach to model special cases of the general collective model. These special cases … include alternative restrictions on the 'sharing rule' that applies to each household, and which defines the distribution of … the household budget over the household members. A limiting case is the unitary model. Our application uses data from the …
Persistent link: https://www.econbiz.de/10010267601
We extend the nonparametric 'revealed preference' methodology for analyzing collective consumption behavior (with consumption externalities and public consumption), to render it useful for empirical applications that deal with welfare-related questions. First, we provide a nonparametric...
Persistent link: https://www.econbiz.de/10010268456
We propose a method to identify bounds (i.e. set identification) on the sharing rule for a general collective household … bounds by applying revealed preference restrictions implied by the collective model to the household's continuous aggregate … assignable within the household, though having such information tightens the bounds. An empirical application demonstrates the …
Persistent link: https://www.econbiz.de/10010282606
This paper tests the predictive value of subjective labour supply data for adjustments in working hours over time. The idea is that if subjective labour supply data help to predict next year?s working hours, such data must contain at least some information on individual labour supply...
Persistent link: https://www.econbiz.de/10010262602
Neoclassical economic theory rules out systematic errors in consumption choice. According to the basic view, individuals know what they choose. They are able to predict how much utility an activity or a good produces for them now and in the future and they can maximize their utility. This...
Persistent link: https://www.econbiz.de/10010267422
We model a general choice environment via probabilistic choice correspondences, with (possibly) incomplete domain and infinite universal set of alternatives. We offer a consistency restriction regarding choice when the feasible set contracts. This condition, 'contraction consistency', subsumes...
Persistent link: https://www.econbiz.de/10010269469
Non-positivity of the generalized substitution effect, non-positivity of the own-price substitution effect, homogeneity of degree zero in all prices and income, and the law of demand are some of the most primitive comparative static results in the standard revealed preference theory of...
Persistent link: https://www.econbiz.de/10010269516
We study a psychologically based foundation for choice errors. The decision maker applies a preference ranking after forming a 'consideration set' prior to choosing an alternative. Membership of the consideration set is determined both by the alternative specific salience and by the rationality...
Persistent link: https://www.econbiz.de/10010269842