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Best nonparametric bounds on demand responses.

Abstract:

This paper uses revealed preference inequalities to provide tight nonparametric bounds on consumer responses to price changes. Price responses are allowed to vary nonparametrically across the income distribution by exploiting microdata on consumer expenditures and incomes over a finite set of discrete relative price changes. This is achieved by combining the theory of revealed preference with the semiparametric estimation of consumer expansion paths (Engel curves). We label these expansion pa...

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Richard Blundell More by this author
Martin Browning More by this author
Ian Crawford More by this author
Publication date:
2005
URN:
uuid:9f403471-7653-4ff6-b642-f732467bd9f3
Local pid:
oai:economics.ouls.ox.ac.uk:12914
Language:
English

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