| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w30130 |
| 来源ID | Working Paper 30130 |
| Discrete-Choice Models and Representative Consumer Theory | |
| Jean-Pierre H. Dubé; Joonhwi Joo; Kyeongbae Kim | |
| 发表日期 | 2022-06-13 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We establish the Hurwicz-Uzawa integrability of the broad class of discrete-choice additive random-utility models of individual consumer behavior with perfect substitutes preferences and divisible goods. We derive the corresponding indirect uility function and then establish a representative consumer formulation for this entire class of models. The representative consumer is always normative, facilitating aggregate welfare analysis. These findings should be of interest to the literatures in macro, trade, industrial organization, labor and ideal price index measurement that use representative consumer models, such as CES and its variants. Our results generalize such representative consumer formulations to the broad, empirically-relevant class of models of behavior that are routinely used in the discrete-choice analysis of micro data, including specifications that do not suffer from the IIA property and that allow for heterogeneous consumer preferences and incomes. When products are indivisible, we show that Hurwicz-Uzawa integrability fails; although some model variants might satisfy a stronger version of quasi-linear integrability. |
| 主题 | Econometrics ; Estimation Methods ; Microeconomics ; Households and Firms ; Welfare and Collective Choice ; Macroeconomics ; Macroeconomic Models ; Industrial Organization ; Other ; Accounting, Marketing, and Personnel |
| URL | https://www.nber.org/papers/w30130 |
| 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/587802 |
| 推荐引用方式 GB/T 7714 | Jean-Pierre H. Dubé,Joonhwi Joo,Kyeongbae Kim. Discrete-Choice Models and Representative Consumer Theory. 2022. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w30130.pdf（504KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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