Testing stochastic rationality and normality of demand with ...

Stochastic Revealed Preferences with Measurement Error

Varian's work is compatible with standard statistical hypothesis testing under the strong assumptions of normality (with known variance) and additivity of ...

LAURENS CHERCHYE - PUBLICATIONS - Google Sites

SURANA (2020), "Revealed preference analysis with normal goods: application to cost of living indices", American Economic Journal: Microeconomics 12, 165-188.

The demand for cocaine by young adults: a rational addiction ...

based in part on research on the demand for two widely used legal addictive ... linear demand functions are employed and the response error is random, coeffi-.

Optimal Discrete Decisions when Payoffs are Partially Identified

Assumption 5 contains consistency and asymptotic normality ... Testing stochastic rationality and predicting stochastic demand: the case of two ...

Testing and Imposing Slutsky Symmetry in Nonparametric Demand ...

... testing of rationality. 3. Page 4. restrictions in a ... 3 and the asymptotic normality of In1 is established. Stochastic Convergence of ISn2.

Testing the Normality Assumption in the Sample Selection Model ...

Testing the normality assumption in the sample selection model with an application to travel demand. ... specification of the stochastic structure of the model ( ...

Supplement to "Nonparametric Analysis of Random Utility Models"

PROOF OF THEOREM 3.1: THE PROOF USES nonstochastic demand systems, which can be identified with vectors (d1 dJ) ∈ B1 ×···× BJ . Such a system is rationalizable ...

The Demand for Money during Hyperinflations under Rational ...

stochastic process or "feedback rule" governing the money supply will produce ... Actually, the normality of the asymptotic distribution is ...

Stochastic Choice and Consideration Sets

We model a boundedly rational agent who suffers from limited attention. The agent considers each feasible alternative with a given (unobservable) ...

Rational expectations in limited dependent variable models

In this paper we provide a more general analysis with less restrictive assumptions on the economic and stochastic structures of the models. We provide an ...

Multiple Equilibria in Noisy Rational Expectations Economies∗

... random supply u ensures that the price does not reveal informed ... standard normal distribution, widely used in econometric analysis with ...

Testing Stochastic Dominance with Many Conditioning Variables

D (u, q)du a non-trivial test demands that the probability of supy,q ... under the perfect variable selection the asymptotic normality is standard ...

Chapter 30 - DEMAND ANALYSIS - ANGUS DEATON

56-90, 1979) "rational random behaviour" under which the variance ... observations has a log-likelihood conditional on normality of. T. T. = 2,. -. In L--(n ...

STOCHASTIC CHOICE AND REVEALED PERTURBED UTILITY BY ...

a linear system with rational coefficients exists in the reals, there is also a solution in the rational number. 17This is also the case for other models of ...

Estimating the Competitive Storage Model with Stochastic Trends in ...

... demand are significantly larger under the stochastic trend ... and they all pass the Jarque-Bera normality test at the 5% significance level.

Specification testing in random coefficient models - Breunig - 2018

Heterogeneity plays an important role in classical consumer demand. The most popular class of parametric demand systems is the almost ideal (AI) ...

Speed of Learning and Policy Analysis

The random variable, µt, exhibits root-t convergence if yt (1/2,0): (i) converges to a Normal distribution with a mean of zero and (ii) ...

256 Using large non-linear models

stochastic St. Louis econometric model', Journal of Money Credit and ... demand for money in the UK: testing the rationality of buffer-stock money ...

NBER WORKING PAPER SERIES DEMAND ANALYSIS WITH ...

Another methodological contribution is to treat the “zero problem” of demand estimation as a demand choice, not as a result of a stochastic disturbance. For ...

Testing the Normality Assumption in the Sample Selection Model ...

Application to Travel Demand. Bas van der Klaauw. 1. Ruud H. Koning. 2. SOM ... specification of the stochastic structure of the model (for example, neglecting.