Replication data for: Revealed Preference with Limited Consideration
Principal Investigator(s): View help for Principal Investigator(s) Thomas Demuynck; Christian Seel
Version: View help for Version V1
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Project Citation:
Demuynck, Thomas, and Seel, Christian. Replication data for: Revealed Preference with Limited Consideration. Nashville, TN: American Economic Association [publisher], 2018. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114351V1
Project Description
Summary:
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We derive revealed preference tests for models where individuals use consideration sets to simplify their consumption problem. Our basic test provides necessary and sufficient conditions for consistency of observed choices with the existence of consideration set restrictions. The same conditions can also be derived from a model in which the consideration set formation is endogenous and based on subjective prices. By imposing restrictions on these subjective prices, we obtain additional refined revealed preference tests. We illustrate and compare the performance of our tests by means of a dataset on household consumption choices.
Scope of Project
JEL Classification:
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D11 Consumer Economics: Theory
D12 Consumer Economics: Empirical Analysis
M31 Marketing
D11 Consumer Economics: Theory
D12 Consumer Economics: Empirical Analysis
M31 Marketing
Geographic Coverage:
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Denver Area, United States
Time Period(s):
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1/1993 – 3/1995
Data Type(s):
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survey data
Methodology
Data Source:
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ACNielsens Homescan Panel
Unit(s) of Observation:
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household,
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