Test for the Consistency of Demand Data with Consumer Preference Theory, A
Yong Sakong, Dermot J. Hayes
January 1992 [92-WP 87]
Suggested citation:
Sakong, Y. and D.J. Hayes. 1992. "Test for the Consistency of Demand Data with Consumer Preference Theory, A." Working paper 92-WP 87. Center for Agricultural and Rural Development, Iowa State University.
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.