A Study of Consumer Behavior Using Laboratory Data
This paper reports the results of an experiment on individual consumer behavior. The experiment was designed to address the following questions. Do participants behave as utility-maximizing agents? Are there variables (socio-economic characteristics, experimental conditions) that have an effect on the probability of being non-rational? And finally, to what extent does the presence of non-rational individuals affect the estimation results of demand equations? Revealed preference tests indicate that 29% of the individuals do not behave as utility-maximizing agents. Gender and the times spent on performing experimental tasks have a significant effect on the likelihood of being non-rational, but the level of remuneration does not. The estimation results of some commonly used demand systems and tests of the Slutsky restrictions are affected by the presence of non-rational individuals in the experimental sample.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
| Length: | |
| Date of creation: | 01 Aug 2000 |
| Date of revision: | |
| Handle: | RePEc:ecm:wc2000:1095 |
| Contact details of provider: | Phone: 1 212 998 3820 Fax: 1 212 995 4487 Web page: http://www.econometricsociety.org/pastmeetings.asp Email: More information through EDIRC
|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Varian, Hal R, 1982. "The Nonparametric Approach to Demand Analysis," Econometrica, Econometric Society, vol. 50(4), pages 945-73, July.
- Reinhard Sippel, 1996. "A Note on the Power of Revealed Preference Tests with Afriat Inefficiency," Discussion Paper Serie A 303 DP No. A--528, University of Bonn, Germany.
- Battalio, Raymond C & Dwyer, Gerald P, Jr & Kagel, John H, 1987. "Tests of Competing Theories of Consumer Choice and the Representative Consumer Hypothesis," Economic Journal, Royal Economic Society, vol. 97(388), pages 842-56, December.
- Hal R. Varian, 1983. "Non-parametric Tests of Consumer Behaviour," Review of Economic Studies, Oxford University Press, vol. 50(1), pages 99-110.
- Sippel, Reinhard, 1997. "An Experiment on the Pure Theory of Consumer's Behaviour," Economic Journal, Royal Economic Society, vol. 107(444), pages 1431-44, September.
- Philippe Février & Michael Visser, 2000.
"AStudyof Consumer Behavior Using Laboratory Data,"
Working Papers
2000-12, Centre de Recherche en Economie et Statistique.
- Philippe Février & Michael Visser, 2004. "A Study of Consumer Behavior Using Laboratory Data," Experimental Economics, Springer, vol. 7(1), pages 93-114, February.
- Philippe Fevrier & Michael Visser, 2000. "A Study of Consumer Behavior Using Laboratory Data," Econometric Society World Congress 2000 Contributed Papers 1095, Econometric Society.
- John Kagel & Leonard Green & Raymond Battalio, 1995. "Economic choice theory. an experimental analysis of animal behavior," Framed Field Experiments 00166, The Field Experiments Website.
- Blundell, Richard & Pashardes, Panos & Weber, Guglielmo, 1993. "What Do We Learn About Consumer Demand Patterns from Micro Data?," American Economic Review, American Economic Association, vol. 83(3), pages 570-97, June.
- Cox, James C, 1997. "On Testing the Utility Hypothesis," Economic Journal, Royal Economic Society, vol. 107(443), pages 1054-78, July.
- Varian, Hal R., 1988. "Revealed preference with a subset of goods," Journal of Economic Theory, Elsevier, vol. 46(1), pages 179-185, October.
This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.
When requesting a correction, please mention this item's handle: RePEc:ecm:wc2000:1095. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.