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Index numbers and revealed preference rankings

Hjertstrand, Per; Swofford, James L.; Whitney, Gerald A. - 2019

For previously identified weakly separable blockings of goods and assets, we construct aggregates using four superlative index numbers, the Fisher, Sato-Vartia, Törnqvist and Walsh, two non-superlative indexes, the Laspeyres and Paasche and the atheoretical simple summation. We conduct several...

Persistent link: https://www.econbiz.de/10012133128

General revealed preference tests of weak separability and utility maximization with incomplete adjustment

Hjertstrand, Per; Swofford, James L.; Whitney, Gerald A. - 2020

Boards hire and fire CEOs based on imperfect information. Using comprehensive data on 28 cohorts in Sweden, we analyze the role of a potentially important unobserved attribute - CEO health - in corporate governance. We find CEOs are significantly healthier than the population and other highskill...

Persistent link: https://www.econbiz.de/10012181126

Do large-scale point-of-sale data satisfy the generalized axiom of revealed preference in aggregation using representative price indexes? : a case involving processed food and beve...

Sato, Hideyasu - 2020

Persistent link: https://www.econbiz.de/10012201108

Revealed preference tests of utility maximization and weak separability of consumption, leisure and money with incomplete adjustment

Hjertstrand, Per; Swofford, James L.; Whitney, Gerald A. - 2013

Swofford and Whitney (1987) investigated the validity of two types of assumptions that underlie the representative agent models of modern macroeconomics and monetary economics. These assumptions are utility maximization and weak or functional separability that is required for an economic...

Persistent link: https://www.econbiz.de/10009793392

Testing Hicksian separability over space

Gibson, John K.; Kim, Bonggeun - 2013

Persistent link: https://www.econbiz.de/10009744112

Dummy endogenous variables in weakly separable multiple index models without monotonicity

Chen, Songnian; Khan, Shakeeb; Tang, Xun - 2020

Persistent link: https://www.econbiz.de/10012231225

Samuelson's approach to revealed preference theory : some recent advances

Demuynck, Thomas; Hjertstrand, Per - 2019

Since Paul Samuelson introduced the theory of revealed preference, it has become one of the most important concepts in economics. This chapter surveys some recent contributions in the revealed preference literature. We depart from Afriat's theorem, which provides the conditions for a data set to...

Persistent link: https://www.econbiz.de/10012007070

Quality, quantity and spatial variation of price : back to the bog

Gibson, John K.; Kim, Bonggeun - 2016 - Revised January 2017

Persistent link: https://www.econbiz.de/10011771353

Forecasting value-at-risk under temporal and portfolio aggregation

Kole, Erik; Markwat, Thijs; Opschoor, Anne; Dijk, Dick van - 2015

We examine the impact of temporal and portfolio aggregation on the quality of Value-at-Risk (VaR) forecasts over a … based on asset class, or into a single portfolio. We compare the impact of aggregation to that of choosing a model for the … that the degree of temporal aggregation is most important. Daily returns form the best basis for VaR forecasts. Modelling …

Persistent link: https://www.econbiz.de/10011431503

Aggregation with a mix of indivisible and continuous labor supply decisions : the case of home production

Vasilev, Aleksandar - 2015

show how lotteries as in Rogerson (1988) can again be used to convexify consumption sets, and aggregation over individual …

Persistent link: https://www.econbiz.de/10011538840

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