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Improving Revealed Preference Bounds On Demand Responses

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  • Richard Blundell
  • Martin Browning
  • Ian Crawford

Abstract

There are three key dimensions by which revealed preference bounds on consumer demand responses can be improved. The first relates to the improvements that arise from using expansion paths for given relative prices, E-bounds. The second concerns the addition of new price information. Thirdly, there are improvements due to assuming separability. Our previous research has examined the first two cases. In this article, we show how to impose separability assumptions within a fully nonparametric analysis and distinguish between weak and homothetic separability. We also apply these ideas to the analysis of demand responses using United Kingdom household level data. Copyright 2007 by the Economics Department Of The University Of Pennsylvania And Osaka University Institute Of Social And Economic Research Association.

Suggested Citation

  • Richard Blundell & Martin Browning & Ian Crawford, 2007. "Improving Revealed Preference Bounds On Demand Responses," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 48(4), pages 1227-1244, November.
  • Handle: RePEc:ier:iecrev:v:48:y:2007:i:4:p:1227-1244
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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-2354.2007.00460.x
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    Cited by:

    1. Sam Cosaert & Thomas Demuynck, 2018. "Nonparametric Welfare and Demand Analysis with Unobserved Individual Heterogeneity," The Review of Economics and Statistics, MIT Press, vol. 100(2), pages 349-361, May.
    2. Blundell, R. & Browning, M. & Cherchye, L.J.H. & Crawford, I. & de Rock, B. & Vermeulen, F.M.P., 2012. "Sharp for SARP : Nonparametric Bounds on the Behavioural and Welfare Effects of Price Changes," Discussion Paper 2012-065, Tilburg University, Center for Economic Research.
    3. repec:eee:jeborg:v:157:y:2019:i:c:p:602-614 is not listed on IDEAS
    4. repec:eee:econom:v:211:y:2019:i:2:p:483-506 is not listed on IDEAS
    5. Cherchye, Laurens & Demuynck, Thomas & De Rock, Bram & Hjertstrand, Per, 2015. "Revealed preference tests for weak separability: An integer programming approach," Journal of Econometrics, Elsevier, vol. 186(1), pages 129-141.
    6. Laurens Cherchye & Thomas Demuynck & Bram De Rock & Khushboo Surana, 2018. "Revealed Preference Analysis with Normal Goods: Application to Cost of Living Indices," Working Papers ECARES 2018-08, ULB -- Universite Libre de Bruxelles.
    7. Cherchye, Laurens & Demuynck, Thomas & Rock, Bram De, 2019. "Bounding counterfactual demand with unobserved heterogeneity and endogenous expenditures," Journal of Econometrics, Elsevier, vol. 211(2), pages 483-506.

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