返回Google圖書搜尋

How Different are We?

其他書名	Identifying the Degree of Revealed Preference Heterogeneity
出版	Department of Economics and Related Studies, University of York, 2022
URL	http://books.google.com.hk/books?id=fDDjzwEACAAJ&hl=&source=gbs_api

註釋I propose a novel nonparametric method to empirically identify the degree of heterogeneity in individual preferences. Using preference information revealed by the observed behaviour, the method estimates interpersonal preference heterogeneity as the Kemeny distance between individual rankings over a set of consumption bundles. An application to US consumption data drawn from the Panel Study of Income Dynamics shows that the method yields informative empirical results on the distance-based heterogeneity measure. I employ the recovered estimates to construct theory-based groups of individuals with similar preferences. Constructing such preference types can be potentially useful in (i) obtaining more accurate out-of-sample demand predictions, (ii) improving welfare analysis, and (iii) detecting functional misspecifications in parametric methodologies. I illustrate this through three empirical applications of demand analysis.