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Testing The Significance Of Deviations From Rational Behavior

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  • Tsur, Yacov

Abstract

We propose procedures for testing statistically the significance of violations of nonparametric tests of optimization axioms when observed behavior is measured with error. The tests are robust against parametric specification of the error distribution, thus are nonparametric in both the statistical and economic senses, and are readily implemented numerically. An illustration with demand data is presented.

Suggested Citation

  • Tsur, Yacov, 1990. "Testing The Significance Of Deviations From Rational Behavior," Staff Papers 13267, University of Minnesota, Department of Applied Economics.
  • Handle: RePEc:ags:umaesp:13267
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    File URL: http://purl.umn.edu/13267
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    References listed on IDEAS

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    1. Varian, Hal R, 1982. "The Nonparametric Approach to Demand Analysis," Econometrica, Econometric Society, vol. 50(4), pages 945-973, July.
    2. Chalfant, James A & Alston, Julian M, 1988. "Accounting for Changes in Tastes," Journal of Political Economy, University of Chicago Press, vol. 96(2), pages 391-410, April.
    3. Tsur, Yacov, 1989. "On Testing For Revealed Preference Conditions," Staff Papers 14264, University of Minnesota, Department of Applied Economics.
    4. Chavas, Jean-Paul & Cox, Thomas L, 1990. "A Non-parametric Analysis of Productivity: The Case of U.S. and Japanese Manufacturing," American Economic Review, American Economic Association, vol. 80(3), pages 450-464, June.
    5. Varian, Hal R, 1984. "The Nonparametric Approach to Production Analysis," Econometrica, Econometric Society, vol. 52(3), pages 579-597, May.
    6. Hanoch, Giora & Rothschild, Michael, 1972. "Testing the Assumptions of Production Theory: A Nonparametric Approach," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 256-275, March-Apr.
    7. Tsur, Yacov, 1989. "On testing for revealed preference conditions," Economics Letters, Elsevier, vol. 31(4), pages 359-362, December.
    8. Jean-Paul Chavas & Thomas L. Cox, 1988. "A Nonparametric Analysis of Agricultural Technology," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(2), pages 303-310.
    9. Epstein, Larry G. & Yatchew, Adonis J., 1985. "Non-parametric hypothesis testing procedures and applications to demand analysis," Journal of Econometrics, Elsevier, vol. 30(1-2), pages 149-169.
    10. Varian, Hal R., 1985. "Non-parametric analysis of optimizing behavior with measurement error," Journal of Econometrics, Elsevier, vol. 30(1-2), pages 445-458.
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    Keywords

    Research Methods/ Statistical Methods;

    Statistics

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