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Best Nonparametric Bounds on Demand Responses.

Abstract:

This paper uses revealed preference inequalities to provide the tightest possible (best) nonparametric bounds on predicted consumer responses to price changes using consumer-level data over a finite set of relative price changes. These responses are allowed to vary nonparametrically across the income distribution. This is achieved by combining the theory of revealed preference with the semiparametric estimation of consumer expansion paths (Engel curves). We label these expansion path based bo...

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Publisher copy:
10.3982/ECTA6069

Authors


Richard Blundell More by this author
Martin Browning More by this author
Ian Crawford More by this author
Journal:
Econometrica
Volume:
76
Issue:
6
Publication date:
2008
DOI:
URN:
uuid:a7f0e12e-ee13-4d5a-ad06-8f6cfeb7f274
Local pid:
oai:economics.ouls.ox.ac.uk:12560
Language:
English

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