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...
| Published in: | Review of Economic Studies Vol. 75; no. 4; pp. 1069 - 1081 |
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| Main Authors: | , |
| Format: | Article |
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Oxford University Press / UK
October 2008
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=511413926&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 511413926 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00346527 REM jtl: Review of Economic Studies issn: 00346527 maglogo: N pubinfo: dt: October 2008 vid: 75 iid: 4 pid: 622 pub: Oxford University Press / UK artinfo: ui: 511413926 10.1111/j.1467-937X.2008.00500.x ppf: 1069 ppct: 12 formats: tig: atl: Heterogeneity and the Non-Parametric Analysis of Consumer Choice: Conditions for Invertibility. aug: au: Beckert, Walter Blundell, Richard su: Consumer preferences Mathematical models Nonparametric statistics Utility theory sug: subj: Consumer preferences Mathematical models Nonparametric statistics Utility theory ab: 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. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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