A Simple Nonadditive Preference Structure for Models of Household Behavior over Time
A Simple Nonadditive Preference Structure for Models of Household Behavior over Time
复制标题
随时间变化的家庭行为模型的简单非累加偏好结构
DOI：
--
复制
发表时间：
1991
影响因子：
8.2
通讯作者：
M. Browning
中科院分区：
文献类型：
--
作者：
M. Browning
跨期可分性是家庭行为实证研究中的一个几乎普遍的假设，但最近关于消费和劳动力供给的大量研究表明，这一假设可能站不住脚。传统上对这一假设的弱化是考虑到习惯的形成。我提出了一种替代结构的跨期偏好，嵌套跨期加性以一种简单的方式，并产生封闭形式的解决方案的需求函数。这种结构包括新古典耐用品模型作为一个特殊情况。我得到一个需求系统，嵌套几乎理想的系统作为其时间可分的对应。该模型是在英国汇总七种商品的时间序列数据。时间可分性被断然拒绝。此外，我发现，忽略时间依赖性导致相当大的偏差估计的弹性。七种商品，耐用品显示最强的不可分离的影响，估计的反应是一致的新古典耐用品模型。
Intertemporal separability is an almost universal assumption in empirical work on household behavior, but a good deal of recent work on consumption and labor supply suggests that it may not be tenable. The traditional weakening of this assumption is to allow for habit formation. I propose an alternative structure for intertemporal preferences that nests intertemporal additivity in a simple way and yields closed-form solutions for demand functions. This structure includes the neoclassical durables model as a special case. I derive a demand system that nests the almost ideal system as its time-separable counterpart. This model is estimated on U.K. aggregate time-series data for seven goods. Time separability is decisively rejected. Moreover, I find that ignoring temporal dependencies leads to considerable bias in the estimates of elasticities. Of the seven goods, durables display the strongest nonseparable effect; the estimated reactions are consistent with the neoclassical durables model.