Testing for intertemporal nonseparability
Ian Crawford and
Journal of Mathematical Economics, 2014, vol. 52, issue C, 46-49
This paper presents a nonparametric analysis of a common class of intertemporal models of consumer choice that relax consumption independence. Within this class and in the absence of any functional form restrictions on instantaneous preferences, we compare the revealed preference conditions for rational habit formation and rational anticipation. We show that these models are observationally equivalent in the presence of finite data sets composed of prices, interest rates, and consumption choices.
Keywords: Anticipation; Habits; Revealed preference; Time separability (search for similar items in EconPapers)
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Working Paper: Testing for intertemporal nonseparability (2013)
Working Paper: Testing for Intertemporal Nonseparability (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:52:y:2014:i:c:p:46-49
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