Goodness of fit in optimizing consumer's model

José Alcantud (), Daniel L. Matos and Carlos R. Palmero

MPRA Paper from University Library of Munich, Germany

Abstract: We provide two new indices of efficiency for determining the degree of coherence in an agent's consumption decisions. We analyze to which extent they improve the efficiency displayed by Varian's (Journal of Econometrics, 1990) index. We report on the results of a Montecarlo experiment that confirms that strict improvements of Varian's vector-index appear on a regular basis.

Keywords: Consumer behavior; GARP; revealed preference; goodness of fit (search for similar items in EconPapers)
JEL-codes: C15 D11 (search for similar items in EconPapers)
Date: 2009-09-29
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:20134

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