11. Mai 2012
DIW Applied Micro Seminar
Aggregation without the aggravation? Nonparametric analysis of the representative consumer
Termin
11. Mai 201213:15-14:45
Ort
Eleanor-Dulles-RaumDIW Berlin im Quartier 110Room 5.2.010Mohrenstraße 5810117 BerlinSprecher*innen
Frederic Vermeulen, Tilburg University
Abstract:
In the tradition of Afriat (1967), Diewert (1973) and Varian (1982), we provide a revealed preference characterisation of the representative consumer. Our results are simple and complement those of Gorman (1953, 1961), Samuelson (1956) and others. They can also be applied to data very readily and without the need for auxilliary parametric or statistical assumptions. We investigate the application of our characterisation by means of a balanced microdata panel survey. Our findings provide robust evidence against the existence of a representative consumer for our data.
In the tradition of Afriat (1967), Diewert (1973) and Varian (1982), we provide a revealed preference characterisation of the representative consumer. Our results are simple and complement those of Gorman (1953, 1961), Samuelson (1956) and others. They can also be applied to data very readily and without the need for auxilliary parametric or statistical assumptions. We investigate the application of our characterisation by means of a balanced microdata panel survey. Our findings provide robust evidence against the existence of a representative consumer for our data.
