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...

In this dissertation three essays were presented. In the first two essays we measure theconsumer welfare changes caused by U.S. meat price changes. In the third essay thedynamic structure of international gasoline prices using the time series methodology isinvestigated.In chapter II, we...

This article provides a robust non-parametric approach to demand analysis based on a concept called homothetic efficiency. Homotheticity is a useful restriction or assumption but data rarely satisfy testable conditions. To overcome this problem, this article provides a way to estimate homothetic...

We provide two methods to compute the largest subset of a set of observations that is consistent with the Generalised Axiom of Revealed Preference. The algorithm provided by Houtman and Maks (1985) is not comput ationally feasible for larger data sets, while our methods are not limited in that...

We develop the theory of demand for commodities and assets facing incompletely insurable uncertainty. First, a Slutsky matrix decomposes into substitution and income effects the derivative of demand with respect to prices and yield structure. Next, we identify the Slutsky matrix’s properties....

This paper shows how revealed preference relations, observed under general budget sets, can be extended using closure operators which impose certain assumptions on preferences. Common extensions are based on the assumption that preferences are convex and/or monotonic, but we also consider...