- 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...
Expand abstract - Publisher copy:
- 10.3982/ECTA6069
-
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- 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
- Copyright date:
- 2008
Journal article
Best Nonparametric Bounds on Demand Responses.
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