The Collective Model of Household Consumption: a Nonparametric Characterization PDF Download
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Author: Laurens Cherchye
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Languages : en
Pages :
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Author: Laurens Cherchye
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Languages : en
Pages :
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Author: Rahul Deb
Publisher:
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Category :
Languages : en
Pages : 14
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Book Description
Recently Cherchye et al. (2007a) provided a nonparametric characterization of a general collective model for household consumption which includes externalities and public consumption. This characterization involved different testable necessary and sufficient conditions. We discuss the special case of the household model for which their sufficient conditions are also necessary. We show that verification of this sufficient condition is NP Complete and discuss the relevance of this result for empirical testing. We observe that testing this condition is equivalent to solving the acyclic partitioning problem on a directed graph. We devise an efficient algorithm which approximately solves the minimum acyclic partitioning problem on directed graphs. Hence, we compute an approximate solution to the problem of finding the minimum number K, so that the observed data is consistent with K decision makers. We implement our algorithm on a randomly generated price consumption data set and report the results.
Author: Laurens Cherchye
Publisher: Foundations & Trends
ISBN: 9781601985361
Category :
Languages : en
Pages : 90
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Collective Household Consumption Behavior: Revealed Preference Analysis presents a nonparametric `revealed preference' methodology for analyzing collective consumption behavior in practical applications, while possibly accounting for externalities, public consumption and the use of assignable quantity information. Collective Household Consumption Behavior: Revealed Preference Analysis considers two types of collective models: The general collective model considers general preferences of the individual household members, which allow for externalities and public consumption within the household. The special collective models that do not allow for consumption externalities. After the introduction, section 2 sets the stage by introducing the revealed preference characterizations of the unitary model. Section 3 presents a collective model that allows for general individual preferences and discusses its revealed preference characterization. Sections 4 and 5 show how to bring this theoretical characterization to observational data. More specifically, Section 4 introduces the mixed integer programming characterizations for special collective models that impose restrictions on the household members' preferences. Section 5 does the same for the general collective model. Throughout Section 2 to Section 5, the authors illustrate the most relevant concepts by means of numerical examples. In Section 6 we subsequently illustrate our main results for data drawn from the Russian Longitudinal Monitoring Survey.
Author: Laurens Cherchye
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author:
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Category :
Languages : en
Pages : 38
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Author: Laurens Cherchye
Publisher:
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Category :
Languages : en
Pages : 27
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Author: Martin Browning
Publisher: Cambridge University Press
ISBN: 1107728924
Category : Business & Economics
Languages : en
Pages : 511
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Book Description
The family is a complex decision unit in which partners with potentially different objectives make consumption, work and fertility decisions. Couples marry and divorce partly based on their ability to coordinate these activities, which in turn depends on how well they are matched. This book provides a comprehensive, modern and self-contained account of the research in the growing area of family economics. The first half of the book develops several alternative models of family decision making. Particular attention is paid to the collective model and its testable implications. The second half discusses household formation and dissolution and who marries whom. Matching models with and without frictions are analyzed and the important role of within-family transfers is explained. The implications for marriage, divorce and fertility are discussed. The book is intended for graduate students in economics and for researchers in other fields interested in the economic approach to the family.
Author: Daniel Slottje
Publisher: Emerald Group Publishing
ISBN: 1848553137
Category : Business & Economics
Languages : en
Pages : 410
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Book Description
Demand studies and understanding consumer behavior remain two of the most important areas of analysis by practicing applied economists and econometricians. This book presents research on the estimation of demand systems and the measurement of consumer preferences.
Author: Martin Browning
Publisher: Cambridge University Press
ISBN: 0521791596
Category : Business & Economics
Languages : en
Pages : 511
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Book Description
This book provides a comprehensive, modern, and self-contained account of the research in the growing area of family economics. It is intended for graduate students in economics and for researchers in other fields interested in the economic approach to the family.
Author: Eugene Choo
Publisher: Emerald Group Publishing
ISBN: 1783500530
Category : Business & Economics
Languages : en
Pages : 447
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Book Description
This volume focuses on recent developments in the use of structural econometric models in empirical economics. The first part looks at recent developments in the estimation of dynamic discrete choice models. The second part looks at recent advances in the area empirical matching models.
