Arbeitspapier

Demand analysis with partially observed prices

In empirical demand, industrial organization, and labor economics, prices are often unobserved or unobservable since they may only be recorded when an agent transacts. In the absence of any additional information, this partial observability of prices is known to lead to a number of identi?cation problems. However, in this paper, we show that theory-consistent demand analysis remains feasible in the presence of partially observed prices, and hence partially observed implied budget sets, even if we are agnostic about the nature of the missing prices. Our revealed preference approach is empirically meaningful and easy to implement. We illustrate using simple examples.

Sprache
Englisch

Erschienen in
Series: IFS Working Papers ; No. W15/16

Klassifikation
Wirtschaft
Consumer Economics: Theory
Consumer Economics: Empirical Analysis
Thema
demand
missing prices
partial identification
revealed preference

Ereignis
Geistige Schöpfung
(wer)
Crawford, Ian
Polisson, Matthew
Ereignis
Veröffentlichung
(wer)
Institute for Fiscal Studies (IFS)
(wo)
London
(wann)
2015

DOI
doi:10.1920/wp.ifs.2015.1516
Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

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Objekttyp

  • Arbeitspapier

Beteiligte

  • Crawford, Ian
  • Polisson, Matthew
  • Institute for Fiscal Studies (IFS)

Entstanden

  • 2015

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