Preference Heterogeneity and the Rank of Demand Systems
利用英国家庭支出调查数据,研究偏好异质性对需求系统秩的非参数和参数检验的影响,发现偏好异质性会提高需求系统的秩,且去除家庭特征影响后,秩3需求系统是合适的经验设定。
This article examines the effect of preference heterogeneity on nonparametric and parametric tests of the rank of demand systems. Using samples of households drawn from the U.K. Family Expenditure Survey, we find that preference heterogeneity increases the rank of demand systems. When the effects of household characteristics on demand are removed by semiparametric techniques, a rank-3 demand system appears to be an adequate empirical specification for all samples.