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GARP violation, economic environment distortions and shadow prices : Evidence from household expenditure panel data

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Author Info
Marc-Arthur Diaye () (ENSAI et Centre d'Economie de la Sorbonne)
François Gardes () (Centre d'Economie de la Sorbonne - Paris School of Economics)
Christophe Starzec () (Centre d'Economie de la Sorbonne)
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.

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File URL: ftp://mse.univ-paris1.fr/pub/mse/CES2009/09020.pdf
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Publisher Info
Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number 09020.

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Length: 38 pages
Date of creation: Apr 2009
Date of revision:
Handle: RePEc:mse:cesdoc:09020

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Web page: http://ces.univ-paris1.fr/
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Related research
Keywords: GARP; shadow prices.;

Find related papers by JEL classification:
C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Semiparametric and Nonparametric Methods
D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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This page was last updated on 2009-11-23.

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