Arbeitspapier
Best nonparametric bounds on demand responses
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 path based bounds as E-bounds. Deviations from revealed preference restrictions aremeasured by preference perturbations which are shown to usefully characterise taste change.
- Sprache
-
Englisch
- Erschienen in
-
Series: IFS Working Papers ; No. 05,20
- Klassifikation
-
Wirtschaft
Consumer Economics: Empirical Analysis
Semiparametric and Nonparametric Methods: General
Index Numbers and Aggregation; Leading indicators
- Thema
-
Demand responses
relative prices
revealed preference
semiparametric regression
changing tastes
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Blundell, Richard
Browning, Martin
Crawford, Ian
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for Fiscal Studies (IFS)
- (wo)
-
London
- (wann)
-
2005
- DOI
-
doi:10.1920/wp.ifs.2005.0520
- Handle
- Letzte Aktualisierung
- 10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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Objekttyp
- Arbeitspapier
Beteiligte
- Blundell, Richard
- Browning, Martin
- Crawford, Ian
- Institute for Fiscal Studies (IFS)
Entstanden
- 2005
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