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Nonparametric Engel Curves and Revealed Preference.

Abstract:

This paper applies revealed preference theory to the nonparametric statistical analysis of consumer demand. Knowledge of expansion paths is shown to improve the power of nonparametric tests of revealed preference. The tightest bounds on indifference surfaces and welfare measures are derived using an algorithm for which revealed preference conditions are shown to guarantee convergence. Nonparametric Engel curves are used to estimate expansion paths and provide a stochastic structure within whi...

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Publisher:
CAM (Institute of Economics, University of Copenhagen)
Series:
CAM Working Papers
Publication date:
2002-01-01
Language:
English
UUID:
uuid:8501a0bd-d468-4b05-aba1-4f802b248590
Local pid:
oai:economics.ouls.ox.ac.uk:14735
Deposit date:
2011-08-16

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