Cherchye, Laurens Crawford, Ian De Rock, Bram Vermeulen, Frederic
Year of Publication:
Discussion Paper series, Forschungsinstitut zur Zukunft der Arbeit 6266
In the tradition of Afriat (1967), Diewert (1973) and Varian (1982), we provide a revealed preference characterisation of the representative consumer. Our results are simple and complement those of Gorman (1953, 1961), Samuelson (1956) and others. They can also be applied to data very readily and without the need for auxilliary parametric or statistical assumptions. We investigate the application of our characterisation by means of a balanced microdata panel survey. Our findings provide robust evidence against the existence of a representative consumer for our data.
revealed preference aggregation Gorman polar form GARP