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Selected Works of Dermot J. Hayes
Unpublished Paper
A Test for the Consistency of Demand Data with Consumer Preference Theory
CARD Working Papers
  • Yong Sakong, Iowa State University
  • Dermot J. Hayes, Iowa State University
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Publication Date
1-1-1992
Series Number
92-WP 87
Abstract

We introduce adding-up, convexity, and noninferiority into the weak axiom of revealed preferences and show how we can use this approach to detect and measure structural change without estimation or subjective input. We use this new approach to measure taste changes among meats for the United States, Canada, Japan, and South Korea.

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Citation Information
Yong Sakong and Dermot J. Hayes. "A Test for the Consistency of Demand Data with Consumer Preference Theory" (1992)
Available at: http://works.bepress.com/dermot_hayes/28/