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Mutually consistent revealed preference demand predictions

Abstract:

Revealed preference restrictions are increasingly used to predict demand behavior at new budgets of interest and as shape restrictions in nonparametric estimation exercises. However, the restrictions imposed are not sufficient for rationality when predictions are made at multiple budgets. I highlight the non-convexities in the set of predictions that arise when making multiple predictions. I develop a mixed integer programming characterization of the problem that can be used to impose rationa...

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Publication status:
Published
Peer review status:
Peer reviewed

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Publisher copy:
10.1257/mic.20150216

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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Oxford college:
New College
Role:
Author
Publisher:
American Economic Association Publisher's website
Journal:
American Economic Journal: Microeconomics Journal website
Volume:
12
Issue:
1
Pages:
42-74
Publication date:
2020-02-01
Acceptance date:
2019-03-14
DOI:
EISSN:
1945-7685
ISSN:
1945-7669
Source identifiers:
982860
Language:
English
Keywords:
Pubs id:
pubs:982860
UUID:
uuid:2f3080ea-13a3-4949-b4a3-307fcc98bd8f
Local pid:
pubs:982860
Deposit date:
2019-03-15

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