La cohérence des choix des consommateurs suisses
Swiss Journal of Economics and Statistics (SJES), 1994, vol. 130, issue I, 3-20
In this article we analyze if consumer behavior is consistent with utility maximization by using Swiss household budget data from 1975 to 1989. The test is based on revealed preference theory. We could follow the expenditures of 1840 households over 12 months and for 1730 households we could test their behavior for a greater number of months (up to 180 for 19 households). The results obtained with these panel data show that the traditional model of consumer behavior cannot explain the behavior of about half of the households. However, if we consider a "nearly optimizing behavior" or errors in the data most of these inconsistencies disappear.
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Persistent link: https://EconPapers.repec.org/RePEc:ses:arsjes:1994-i-1
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