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Heterogeneity and the non-parametric analysis of consumer choice: Conditions for invertibility

Beckert, W; Blundell, R; (2008) Heterogeneity and the non-parametric analysis of consumer choice: Conditions for invertibility. REV ECON STUD , 75 (4) 1069 - 1080.

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Abstract

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.

Type: Article
Title: Heterogeneity and the non-parametric analysis of consumer choice: Conditions for invertibility
Keywords: DEMAND SYSTEMS, IDENTIFICATION, PREFERENCES, EQUATIONS, MODELS
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of SandHS > Dept of Economics
URI: http://discovery.ucl.ac.uk/id/eprint/94438
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