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Testing axioms of revealed preference in Stata
Linnaeus University, School of Business and Economics, Department of Economics and Statistics.ORCID iD: 0000-0001-5187-3846
Res Inst Ind Econ, Sweden.
Univ Bristol, UK.
2022 (English)In: The Stata Journal, ISSN 1536-867X, E-ISSN 1536-8734, Vol. 22, no 2, p. 319-343Article in journal (Refereed) Published
Abstract [en]

The revealed preference approach in economics is central to the empirical analysis of consumer behavior. In this article, we introduce the commands checkax, aei, and powerps as a bundle within the package rpaxioms. The first command allows a user to test whether consumer expenditure data satisfy several revealed preference axioms; the second command calculates measures of goodness of fit when the data violate these axioms; and the third command calculates power against uniformly random behavior as well as predictive success for each axiom. We illustrate the commands using individual-level experimental data and household-level aggregate consumption data.

Place, publisher, year, edition, pages
Sage Publications, 2022. Vol. 22, no 2, p. 319-343
Keywords [en]
st0673, rpaxioms, checkax, aei, powerps, revealed preference, generalized axiom of revealed preference, Afriat efficiency index, power, predictive success
National Category
Economics
Research subject
Economy, Economics
Identifiers
URN: urn:nbn:se:lnu:diva-115672DOI: 10.1177/1536867X221106374ISI: 000827062800005Scopus ID: 2-s2.0-85133410160OAI: oai:DiVA.org:lnu-115672DiVA, id: diva2:1685843
Available from: 2022-08-05 Created: 2022-08-05 Last updated: 2022-12-16Bibliographically approved

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Demetry, Marcos

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf