Power against random expenditure allocation for revealed preference tests

Per Hjertstrand

Journal of Economic Behavior & Organization, 2021, vol. 188, issue C, 36-45

Abstract: This paper proposes new power indices for revealed preference tests. The indices are based on models of irrational consumption behavior where the consumer randomly allocates a certain fraction of expenditure. The methods allow a researcher to trace out the entire power curve against random expenditure allocation. The power indices are illustrated on altruistic choices in experimental data.

Keywords: GARP; Power; Revealed preference (search for similar items in EconPapers)
JEL-codes: C14 D12 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:188:y:2021:i:c:p:36-45

DOI: 10.1016/j.jebo.2021.05.001

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