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GARP violation, Economic Environment Distortions and Shadow Prices: Evidence from Household Expenditure Panel Data

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  • Marc-Arthur Diaye
  • François Gardes
  • Christophe Starzec

Abstract

This paper contributes to the discussion of the compatibility of consumers' behavior in "real" life with GARP. Within expenditure panel data we observe a relatively low rate of violation (240 out of 3630 households). We show that these violations do not imply an "irrational" behavior of the agents, but can be attributed to a change in the agents' choice conditions during a period of time, which includes a shift from a centrally planned towards a market oriented economy.

Suggested Citation

  • Marc-Arthur Diaye & François Gardes & Christophe Starzec, 2008. "GARP violation, Economic Environment Distortions and Shadow Prices: Evidence from Household Expenditure Panel Data," Annals of Economics and Statistics, GENES, issue 90, pages 3-33.
    • Handle: RePEc:adr:anecst:y:2008:i:90:p:3-33
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    File URL: http://www.jstor.org/stable/27739817
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    Cited by:

    1. François Gardes & Christophe Starzec, 2009. "Polish Households' behavior in the Regular and Informal Economies," Post-Print halshs-00375543, HAL.
    2. François Gardes & Christophe Starzec, 2009. "Polish Households' Behavior in the Regular and Informal Economies," Post-Print halshs-00449447, HAL.
    3. François Gardes & Christophe Starzec, 2009. "Polish Households' Behavior in the Regular and Informal Economies," Revue économique, Presses de Sciences-Po, vol. 60(5), pages 1181-1210.

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