We provide a revealed preference analysis of the transferable utility hypothesis, which is widely used in economic … consistent with Pareto efficiency under transferable utility. Next, we show that these conditions are easily testable by means of … data. To the best of our knowledge, this is the first empirical test of the transferable utility hypothesis …

This note provides a nonparametric test for dynamic discrete random utility models (DDRUM). The methodology can be used …

The transferable utility hypothesis underlies important theoretical results in household economics. We provide a … transferable utility. We also show that these conditions are testable by means of integer programming methods. …

of the marginal utility of income, whose inverse is often called the ‘Frisch parameter’, and its multi-period counterpart …, the wealth elasticity of the marginal utility of wealth, are key concepts. Three cases with additive preferences are …

We provide a revealed preference analysis of the transferable utility hypothesis, which is widely used in economic … consistent with Pareto efficiency under transferable utility. Next, we show that these conditions are easily testable by means of … data. To the best of our knowledge, this is the first empirical test of the transferable utility hypothesis …

We solve Ireland's (1994) conspicuous consumption model (where social-status concerns are introduced into the utility … function) for Cobb-Douglas (CD) utility. In the resulting generalized CD consumer model, Engel curves are no longer limited to … of explaining empirically observed consumption patterns with a CD utility model …

necessary condition is not sufficient for either ii) or iii). If however we can write the indirect utility functions for … time of the policy change, then the indirect (von Neumann-Morgenstern) utility function must be additively separable in …