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: Universit d'Evry Val d'Essonne - EPEE & Centre d'Economie de la Sorbonne

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

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: GARP; shadow prices (search for similar items in EconPapers)
JEL-codes: C14 D11 D12 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2009-04
New Economics Papers: this item is included in nep-upt
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Citations: View citations in EconPapers (3)

Published in Annales d'Economie et de Statistique, 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 (2010)
Working Paper: GARP violation, Economic Environment Distortions and Shadow Prices: Evidence from Household Expenditure Panel Data (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:09020

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