Consistent subsets: Computing the Houtman–Maks index in Stata

Marcos Demetry and Per Hjertstrand

Stata Journal, 2023, vol. 23, issue 2, 578-588

Abstract: The Houtman–Maks index is a measure of the size of a violation of utility-maximizing (that is, rational) behavior. In this article, we introduce the command hmindex, which calculates the Houtman–Maks index for a dataset of prices and observed choices of a consumer. The command is illustrated with an empirical application.

Keywords: hmindex; Houtman–Maks index; revealed preference; WGARP; WARP (search for similar items in EconPapers)
Date: 2023
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Working Paper: Consistent Subsets: Computing the Houtman-Maks Index in Stata (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:tsj:stataj:v:23:y:2023:i:2:p:578-588

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DOI: 10.1177/1536867X231175345

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