A revealed preference test of rationing a Monte Carlo analysis

Adrian R. Fleissig and Gerald A. Whitney

Economic Modelling, 2015, vol. 45, issue C, 207-211

Abstract: This paper develops and evaluates a rationing linear programming procedure that uses an “efficiency index” to allow for violations of revealed preference to be attributed to “almost” optimal choices. The procedure detects rationing using U.K. data. Various Monte Carlo simulations are performed to evaluate the ability of the procedure to differentiate between violations of revealed preferences caused by random error and those caused by rationing.

Keywords: Afriat inequalities; Rationing (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:45:y:2015:i:c:p:207-211

DOI: 10.1016/j.econmod.2014.11.016

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