Testing for intertemporal nonseparability

Ian Crawford and Matthew Polisson

No W13/19, IFS Working Papers from Institute for Fiscal Studies

Abstract: 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)
Date: 2013-08-09
New Economics Papers: this item is included in nep-dcm
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Testing for intertemporal nonseparability (2014)
Working Paper: Testing for Intertemporal Nonseparability (2013)
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