Heterogeneity and the Non-Parametric Analysis of Consumer Choice: Conditions for Invertibility.
This paper considers structural non-parametric random utility models for continuous choice variables with unobserved heterogeneity. We provide sufficient conditions on random preferences to yield reduced-form systems of non-parametric stochastic demand functions that allow global invertibility betwe...
| Publicado en: | Review of Economic Studies Vol. 75; no. 4; pp. 1069 - 1081 |
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| Autores principales: | , |
| Formato: | Artículo |
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Oxford University Press / UK
October 2008
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| Acceso en línea: | Ver este registro en EBSCOhost |
| Sumario: | This paper considers structural non-parametric random utility models for continuous choice variables with unobserved heterogeneity. We provide sufficient conditions on random preferences to yield reduced-form systems of non-parametric stochastic demand functions that allow global invertibility between demands and non-separable unobserved heterogeneity. Invertibility is essential for global identification of structural consumer demand models, for the existence of well-specified probability models of choice and for the non-parametric analysis of revealed stochastic preference. We distinguish between new classes of models in which heterogeneity is separable and non-separable in the marginal rates of substitution, respectively. Reprinted by permission of the publisher. |
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