Showing 1 - 10 of 100
In empirical demand, industrial organization, and labor economics, prices are often unobserved or unobservable since they may only be recorded when an agent transacts. In the absence of any additional information, this partial observability of prices is known to lead to a number of identi?cation...
Persistent link: https://www.econbiz.de/10011335619
We identify a natural counterpart of the standard GARP for demand data in which goods are all indivisible. We show that the new axiom (DARP, for "discrete axiom of revealed preference") is necessary and sufficient for the rationalization of the data by a well-behaved utility function. Our...
Persistent link: https://www.econbiz.de/10010328833
This paper compares the goods and characteristics models of the consumer within a non-parametric revealed preference framework. Of primary interest is to make a comparison on the basis of predictive success that takes into account dimension reduction. This allows us to nonparametrically identify...
Persistent link: https://www.econbiz.de/10010331043
consumption independence. Within this class and in the absence of any functional form restrictions on instantaneous preferences …
Persistent link: https://www.econbiz.de/10010331047
We provide a framework to decompose preferences into a notion of distributive justice and a selfishness part and to …' preferences, but - with the help of simple new axioms - also to recover some part of individuals' notion of justice. 'Social …
Persistent link: https://www.econbiz.de/10010331341
individuals trade off equality and efficiency. The purpose of the theoretical framework is to explain preferences in dictator … selfishness and concerns for distributive justice. We also provide a rough classification of preferences and notions of …
Persistent link: https://www.econbiz.de/10010331342
We propose a novel structural method to empirically identify economies of scale in household consumption. We assume collective households with consumption technologies that define the public and private nature of expenditures through Barten scales. Our method recovers the technology by solely...
Persistent link: https://www.econbiz.de/10011559670
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/10011586683
identify both search paths and preferences. …
Persistent link: https://www.econbiz.de/10011599496
Motivated by the literature on ``choice overload'', we study a boundedly rational agent whose choice behavior admits a \textit{monotone threshold representation}: There is an underlying rational benchmark, corresponding to maximization of a utility function $v$, from which the agent's choices...
Persistent link: https://www.econbiz.de/10011599584