Nonparametric Inferences from Demand Observations

点击翻译按钮获取中文摘要

The purpose of this proposal is to develop methods that use observations about consumer demands to infer properties of consumer preferences. These new methods will require fewer restrictions on the structure of consumer preferences and their utility representations than previous studies have imposed. This research is important because the use of these new approaches will allow researchers to avoid assumptions beyond those directly implied by economic theory and, consequently, to avoid errors that result when models entail possible misspecifications. The project will consider consumers' choices from finite sets of alternatives. For example, from observations on consumer's choices among various means of transportation, it will be possible to study and infer the utility they attach to various attributes, such as time and cost, of alternative means of transportation. In contrast to previous studies, the utility functions and their distribution in the consumer population need to satisfy only weak conditions.