|
|
|
|
|
| Andersen, Laura M.; Blow, Laura; Browning, Martin; Crawford, Ian. |
| Characteristics models in demand analysis capture the idea that people value goods not For the commodity itself but for the characteristics (or attributes) or embodied in the good. For example, agents may care about the fat content and the taste of different sorts of milk but not the actual type of milk. When we have fewer characteristics than types of good the theory imposes restrictions on observables. We present a revealed preference characteristics model analysis of the demand for milk in Denmark. |
| Tipo: Journal paper |
Palavras-chave: "Organics" in general. |
| Ano: 2005 |
URL: http://orgprints.org/4750/1/4750.pdf |
| |
|
|
| Blow, Laura; Browning, Martin; Crawford, Ian. |
| Characteristics models have been found to be useful in many areas of economics. However, their empirical implementation tends to rely heavily on functional form assumptions. In this paper we develop a revealed preference approach to characteristics models. We derive the necessary and su¢ cient empirical conditions under which data on the market behaviour of heterogeneous, price-taking consumers are nonparametrically consistent with the consumer characteristics model. Where these conditions hold, we show how information may be recovered on individual consumer’s marginal valuations of product attributes. In some cases marginal valuations are point identi…ed and in other cases we can only recover bounds. Where the conditions fail we highlight the role which... |
| Tipo: Journal paper |
Palavras-chave: "Organics" in general; Markets and trade; Consumer issues; Europe. |
| Ano: 2005 |
URL: http://orgprints.org/5008/1/5008.pdf |
| |
|
|
|
