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Revealed Preference Analysis of Characteristics Models.

Abstract:

Characteristics models have been found to be useful in many areas of economics. However, their empirical implementation tends to rely heavily on functional form assumptions. In this paper we develop a revealed preference approach to characteristics models. We derive the necessary and sufficient empirical conditions under which data on the market behaviour of heterogeneous, price-taking consumers are non-parametrically consistent with the consumer characteristics model. Where these conditions ...

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Journal:
Review of Economic Studies
Volume:
75
Issue:
2
Publication date:
2008-01-01
DOI:
URN:
uuid:81c3c166-176f-4767-a51f-f4a05a94ad49
Local pid:
oai:economics.ouls.ox.ac.uk:14601
Language:
English

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