GARP violation, Economic Environment Distortions and Shadow Prices: Evidence from Household Expenditure Panel Data

Marc-Arthur Diaye (), François Gardes and Christophe Starzec
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Marc-Arthur Diaye: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: This paper contributes to the discussion of the compatibility of consumers' behavior in "real" life with GARP. Within expenditure panel data we observe a relatively low rate of violation (240 out of 3630 households). We show that these violations do not imply an "irrational" behavior of the agents, but can be attributed to a change in the agents' choice conditions during a period of time, which includes a shift from a centrally planned towards a market oriented economy.

Keywords: Shadow prices.; Prix virtuels; GARP; Prix virtuels. (search for similar items in EconPapers)
Date: 2010-01-01
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Published in Annales d'Economie et de Statistique, 2010, Avril-Juin 2008 (90), pp.3-33

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Related works:
Working Paper: GARP violation, Economic Environment Distortions and Shadow Prices: Evidence from Household Expenditure Panel Data (2009)
Working Paper: GARP violation, economic environment distortions and shadow prices: Evidence from household expenditure panel data (2009)
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