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Aggregation Without the Aggravation? Nonparametric Analysis of the Representative ConsumerLaurens CherchyeKU Leuven; Erasmus Research Institute of Management (ERIM) Ian CrawfordInstitute for Fiscal Studies (IFS) Bram De RockKatholieke Universiteit Leuven - Campus Kortrijk (KULAK) - Subfaculty of Economics and Applied Economics Frederic VermeulenTilburg University - CentER; Institute for the Study of Labor (IZA) IZA Discussion Paper No. 6266 Abstract: 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.
Number of Pages in PDF File: 24 Keywords: revealed preference, aggregation, Gorman polar form, GARP JEL Classification: D10, D30, D60, E10 working papers seriesDate posted: January 8, 2012Suggested CitationContact Information
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