Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/91556
Authors: 
Polisson, Matthew
Year of Publication: 
2012
Series/Report no.: 
IFS Working Papers W12/02
Abstract: 
This paper compares the goods and characteristics models of the consumer within a non-parametric revealed preference framework. Of primary interest is to make a comparison on the basis of predictive success that takes into account dimension reduction. This allows us to nonparametrically identify the model which best fits the data. We implement these procedures on household panel data from the UK milk market. The primary result is that the better fit of the characteristics model is entirely attributable to dimension reduction.
Subjects: 
Characteristics
demand
dimension reduction
nested models
revealed preference
JEL: 
D11
D12
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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