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Heterogeneity and the nonparametric analysis of consumer choice: conditions for invertibility

Beckert, W.; Blundell, R.; (2005) Heterogeneity and the nonparametric analysis of consumer choice: conditions for invertibility. (cemmap Working Papers CWP09/). Institute for Fiscal Studies: London, UK. Green open access

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Abstract

This paper considers structural nonparametric random utility models for continuous choice variables. It provides sufficient conditions on random preferences to yield reduced- form systems of nonparametric stochastic demand functions that allow global invertibility between demands and random utility components. Invertibility is essential for global identifcation of structural consumer demand models, for the existence of well-specified probability models of choice and for the nonparametric analysis of revealed stochastic preference.

Type: Working / discussion paper
Title: Heterogeneity and the nonparametric analysis of consumer choice: conditions for invertibility
Open access status: An open access version is available from UCL Discovery
Publisher version: http://www.cemmap.ac.uk/publications.php?publicati...
Language: English
Keywords: JEL classification: C14, C31, C51, D1. Nonparametric random utility model, stochastic demand, global invertibility
UCL classification: UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/14687
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