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Economie expérimentale et modèle intertemporel du consommateur

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  • Aurelio MATTEI

Abstract

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.

Suggested Citation

  • Aurelio MATTEI, 1998. "Economie expérimentale et modèle intertemporel du consommateur," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 9813, Université de Lausanne, Faculté des HEC, DEEP.
  • Handle: RePEc:lau:crdeep:9813
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    File URL: http://www.hec.unil.ch/deep/textes/9813.pdf
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    More about this item

    Keywords

    consumer theory; experimental economics; revealed preference; intertemporal model; elasticity of intertemporal substitution;

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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