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来源类型Working Paper
规范类型报告
DOI10.3386/w21617
来源IDWorking Paper 21617
The Robustness of Tests for Consumer Choice Inconsistencies
Jason Abaluck; Jonathan Gruber
发表日期2015-10-12
出版年2015
语种英语
摘要We explore the in- and out- of sample robustness of tests for consumer choice inconsistencies based on parameter restrictions in parametric models, with a focus on tests proposed by Ketcham, Kuminoff and Powers (2015). We start by arguing that non-parametric alternatives are inherently conservative with respect to detecting mistakes (and one specific test proposed by KKP is incorrect). We then consider several proposed robustness checks of parametric models and argue that they do not separately identify misspecification and choice inconsistencies. We also show that, when implemented using a comprehensive goodness of fit measure, the Keane and Wolpin (2007) test of out of sample forecasting demonstrates that a model allowing for choice inconsistencies forecasts substantially better than one that does not. Finally, we explore the robustness of our 2011 results to alternative normative assumptions.
主题Microeconomics ; Households and Firms ; Health, Education, and Welfare ; Health ; Labor Economics ; Demography and Aging
URLhttps://www.nber.org/papers/w21617
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/579292
推荐引用方式
GB/T 7714
Jason Abaluck,Jonathan Gruber. The Robustness of Tests for Consumer Choice Inconsistencies. 2015.
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