Beckert, W.;
Blundell, R.;
(2005)
Heterogeneity and the nonparametric analysis of consumer choice: conditions for invertibility.
(cemmap Working Papers
CWP09/).
Institute for Fiscal Studies: London, UK.
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Abstract
This paper considers structural nonparametric random utility models for continuous choice variables. It provides sufficient conditions on random preferences to yield reduced- form systems of nonparametric stochastic demand functions that allow global invertibility between demands and random utility components. Invertibility is essential for global identifcation of structural consumer demand models, for the existence of well-specified probability models of choice and for the nonparametric analysis of revealed stochastic preference.
| Type: | Working / discussion paper |
|---|---|
| Title: | Heterogeneity and the nonparametric analysis of consumer choice: conditions for invertibility |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | http://www.cemmap.ac.uk/publications.php?publicati... |
| Language: | English |
| Keywords: | JEL classification: C14, C31, C51, D1. Nonparametric random utility model, stochastic demand, global invertibility |
| UCL classification: | UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics |
| URI: | https://discovery-pp.ucl.ac.uk/id/eprint/14687 |
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