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Bounding quantile demand functions using revealed preference inequalities

Authors: Richard Blundell , Dennis Kristensen and Rosa Matzkin
Date: 01 June 2011
Type: cemmap Working Paper, CWP21/11
DOI: 10.1920/wp.cem.2011.2111

Abstract

This paper develops a new technique for 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 quantile demand functions. A nonparametric estimator for these bounds is developed and asymptotic properties are derived. An empirical application using data from the U.K. Family Expenditure Survey illustrates the usefulness of the methods by deriving bounds and confidence sets for estimated quantile demand functions.

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Now published:
Richard Blundell, Dennis Kristensen and Rosa Matzkin April 2014, Bounding quantile demand functions using revealed preference inequalities, Journal Article, Elsevier

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