EconPapers    
Economics at your fingertips  
 

Revealed Price Preference: Theory and Stochastic Testing

Rahul Deb (), Yuichi Kitamura (), John Quah () and Jörg Stoye
Additional contact information
Yuichi Kitamura: Cowles Foundation, Yale University, http://economics.yale.edu/people/yuichi-kitamura

No 2087, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: We develop a model of demand where consumers trade-off the utility of consumption against the disutility of expenditure. This model is appropriate whenever a consumer’s demand over a strict subset of all available goods is being analyzed. Data sets consistent with this model are characterized by the absence of revealed preference cycles over prices. The model is readily generalized to the random utility setting, for which we develop nonparametric statistical tests. Our application on national household consumption data provides support for the model.

Pages: 37 pages
Date: 2017-05
New Economics Papers: this item is included in nep-ecm, nep-mic and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10) Track citations by RSS feed

Downloads: (external link)
http://cowles.yale.edu/sites/default/files/files/pub/d20/d2087.pdf (application/pdf)

Related works:
Working Paper: Revealed Price Preference: Theory and Stochastic Testing (2017) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cwl:cwldpp:2087

Ordering information: This working paper can be ordered from
Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
The price is None.

Access Statistics for this paper

More papers in Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University Yale University, Box 208281, New Haven, CT 06520-8281 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Matthew Regan ().

 
Page updated 2020-05-25
Handle: RePEc:cwl:cwldpp:2087