Testing axioms of revealed preference in Stata

• Autores: Marcos Demetry, Per Hjertstrand, Matthew Polisson
• Localización: The Stata journal, ISSN 1536-867X, Vol. 22, Nº. 2, 2022, págs. 319-343
• Idioma: inglés
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• Resumen

  • The revealed preference approach in economics is central to the empirical analysis of consumer behavior. In this article, we introduce the commands checkax, aei, and powerps as a bundle within the package rpaxioms. The first command allows a user to test whether consumer expenditure data satisfy several revealed preference axioms; the second command calculates measures of goodness of fit when the data violate these axioms; and the third command calculates power against uniformly random behavior as well as predictive success for each axiom. We illustrate the commands using individual-level experimental data and household-level aggregate consumption data.