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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w21617 |
来源ID | Working 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 |
URL | https://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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