Invertibility of Nonparametric Stochastic Demand Functions

Walter Beckert () and Richard Blundell ()

No 406, Birkbeck Working Papers in Economics and Finance from Birkbeck, Department of Economics, Mathematics & Statistics

Abstract: This paper considers structural nonparametric random utility models for continuous choice variables. It provides sufficient conditions on the structural model to yield reduced-form systems of nonparametric stochastic demand functions that constitute a global homeomorphism between demands and random utility components. Such homeomorphic relationships are essential for global identification of the structural model, the existence of well-specified probability models for choice variables and for the analysis of revealed stochastic preference.

Keywords: nonparametric random utility model; stochastic demand; global homeomorphism; coherency (search for similar items in EconPapers)
JEL-codes: C14 C31 C51 D1 (search for similar items in EconPapers)
Date: 2004-10
New Economics Papers: this item is included in nep-dcm and nep-ecm
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Citations: View citations in EconPapers (6)

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https://eprints.bbk.ac.uk/id/eprint/27108 First version, 2004 (application/pdf)

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