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Bounding quantile demand functions using revealed preference inequalities

Blundell, R; Kristensen, D; Matzkin, R; (2014) Bounding quantile demand functions using revealed preference inequalities. Journal of Econometrics , 179 (2) pp. 112-127. 10.1016/j.jeconom.2014.01.005. Green open access

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Abstract

This paper develops a new approach to the estimation of consumer demand models with unobserved heterogeneity subject to revealed preference inequality restrictions. Particular attention is given to nonseparable heterogeneity. The inequality restrictions are used to identify bounds on counterfactual demand. A nonparametric estimator for these bounds is developed and asymptotic properties are derived. An empirical application using data from the UK Family Expenditure Survey illustrates the usefulness of the methods.

Type: Article
Title: Bounding quantile demand functions using revealed preference inequalities
Open access status: An open access version is available from UCL Discovery
DOI: 10.1016/j.jeconom.2014.01.005
Publisher version: http://dx.doi.org/10.1016/j.jeconom.2014.01.005
Language: English
Additional information: © 2014. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/
Keywords: Consumer behavior, Revealed preference, Bounds, Quantile regression
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/1474232
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