Interdependent Preferences: An Econometric Analysis
AbstractThe theoretical model of Gaertner (1974) and Pollak (1976) for the interdependence of preferences in the Linear Expenditure System is estimated for a cross-section of households. The interdependence of consumption of different households has implications for the stochastic structure of the model and for the identifiability of its parameters. Both aspects are dealt with. The empirical results indicate a significant role played by the interdependence of preferences One of its implications is that predictions of the effects of changes in a household's exogenous variables differ according to whether the exogenous variable only changes for this household or for all households jointly. Coauthors are Sara van de Geer, Huib van de Stadt, and Tom Wansbeek.
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Bibliographic InfoPaper provided by Tilburg - Center for Economic Research in its series Papers with number 8954.
Length: 35 pages
Date of creation: 1989
Date of revision:
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Postal: TILBURG UNIVERSITY, CENTER FOR ECONOMIC RESEARCH, 5000 LE TILBURG THE NETHERLANDS.
Phone: 31 13 4663050
Fax: 31 13 4663066
Web page: http://center.uvt.nl/
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linear models ; consumption ; econometrics;
Other versions of this item:
- Kapteyn, Arie, et al, 1997. "Interdependent Preferences: An Econometric Analysis," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 12(6), pages 665-86, Nov.-Dec..
- Kapteyn, A. & Geer, S. van der & Stadt, H. van de & Wansbeek, T., 1997. "Interdependent preferences: An econometric analysis," Open Access publications from Tilburg University urn:nbn:nl:ui:12-74366, Tilburg University.
- Kapteyn, A.J. & Geer, S. van de & Stadt, H. van de & Wansbeek, T., 1984. "Interdependent preferences: An econometric analysis," Research Memorandum 140, Tilburg University, Faculty of Economics and Business Administration.
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