Economie expérimentale et modèle intertemporel du consommateur
This paper reports the results of an experiment on the intertemporal model of consumer behavior with perfect foresight. A test using the theory of revealed preference show that a significant number of individuals have an inconsistent behavior. However, the average data are consistent with the behavior of a representative consumer. The estimation of the elasticity of intertemporal substitution shows that a rise in the interest rate has an important effect on consumption. Earlier findings using average cohort data are confirmed.
|Date of creation:||Sep 1998|
|Date of revision:|
|Publication status:||Published in Revue Suisse d'Economie politique et Statistique, vol. 135 (4), déc. 1999, pp. 591-605|
|Contact details of provider:|| Postal: |
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Web page: http://www.hec.unil.ch/deep/publications/cahiers/series
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