Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 19, 2011 erstellt
Description:
In the tradition of Afriat (1967), Diewert (1973) and Varian (1982), we provide a revealed preference characterization of the representative consumer. Our results are simple and complement those of Gorman (1953, 1961), Samuelson (1956) and others. They can also be applied to data very readily and without the need for auxilliary parametric or statistical assumptions. We investigate the application of our characterization by means of a balanced microdata panel survey. Our findings provide robust evidence against the existence of a representative consumer for our data