Revealed statistical consumer theory

Arbeitspapier

We investigate a model of deterministic stochastic choice for the standard con- sumer problem. We introduce the framework of statistical consumer theory where the individual maximizes their utility with respect to a distribution of bundles that is constrained by a statistic (e.g. mean expenditure). We show that this behavior is observationally equivalent to an individual whose preferences depend only on the statistic of the distribution. Statistical consumer theory neither nests nor is nested in the random utility approach. We provide a formal statistical test of the model accounting for sampling variability and demonstrate it in an illustrative example using data on capuchin monkeys.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Research Report ; No. 2019-5

Klassifikation und Themen

• Klassifikation: Wirtschaft
• Thema: Nachfragetheorie des Haushalts

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Allen, Roy ; Dziewulski, Pawel ; Rehbeck, John
• Ereignis: Veröffentlichung
• (wer): The University of Western Ontario, Department of Economics
• (wo): London (Ontario)
• (wann): 2019

Weitere Informationen

• Handle: http://hdl.handle.net/10419/247632
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ