Intertemporal Aggregation of Choice Data with Consumption Dependent Preferences
Fuente:
arXiv
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Preprint |
| Veröffentlicht: |
2023
|
| Schlagworte: | |
| Online-Zugang: | |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| _version_ | 1866908567379902464 |
|---|---|
| author | Turansick, Christopher |
| author_facet | Turansick, Christopher |
| contents | We study consumption dependence in the context of random utility and repeated choice. We show that, in the presence of consumption dependence, the random utility model is a misspecified model of repeated rational choice. This misspecification leads to biased estimators and failures of standard random utility axioms. We characterize exactly when and by how much the random utility model is misspecified when utilities are consumption dependent. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2302_05806 |
| institution | arXiv |
| publishDate | 2023 |
| record_format | arxiv |
| spellingShingle | Intertemporal Aggregation of Choice Data with Consumption Dependent Preferences Turansick, Christopher Theoretical Economics We study consumption dependence in the context of random utility and repeated choice. We show that, in the presence of consumption dependence, the random utility model is a misspecified model of repeated rational choice. This misspecification leads to biased estimators and failures of standard random utility axioms. We characterize exactly when and by how much the random utility model is misspecified when utilities are consumption dependent. |
| title | Intertemporal Aggregation of Choice Data with Consumption Dependent Preferences |
| topic | Theoretical Economics |
| url | https://arxiv.org/abs/2302.05806 |