Testing for intertemporal nonseparability
Ian Crawford and
No W13/19, IFS Working Papers from Institute for Fiscal Studies
This paper presents a nonparametric analysis of a common class of intertemporal models of consumer choice that relax consumption independence. Within this class and in the absence of any functional form restrictions on instantaneous preferences, we compare the revealed preference conditions for rational habit formation and rational anticipation. We show that these models are nonparametrically equivalent in the presence of finite date sets composed of prices, interest rates, and consumption choices.
Keywords: anticipation; habits; revealed preference; time separability (search for similar items in EconPapers)
JEL-codes: D11 D12 D91 (search for similar items in EconPapers)
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Journal Article: Testing for intertemporal nonseparability (2014)
Working Paper: Testing for Intertemporal Nonseparability (2013)
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