Consistent Subsets: Computing the Houtman-Maks Index in Stata

Per Hjertstrand () and Marcos Demetry
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Per Hjertstrand: Research Institute of Industrial Economics (IFN), Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden, https://www.ifn.se/en/researchers/affiliated-researchers/per-hjertstrand/

No 1446, Working Paper Series from Research Institute of Industrial Economics

Abstract: The Houtman-Maks index is a measure of the size of a violation of utility maximizing (i.e., rational) behavior. This note introduces the Stata command hmindex, which calculates the Houtman-Maks index for a data set 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)
JEL-codes: C87 D12 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2022-12-01
New Economics Papers: this item is included in nep-upt
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