Name
Title | ||
|---|---|---|
Revealed Preference Tests of Collectively Rational Consumption Behavior: Formulations and Algorithms |
Abstract | ||
|---|---|---|
AbstractThis paper focuses on revealed preference tests of the collective model of household consumption. We start by showing that the decision problems corresponding to testing collective rationality are NP-complete. This makes the application of these tests problematic for (increasingly available) large(r)-scale data sets. We then present two approaches to overcome this negative result. First, we introduce exact algorithms based on mixed-integer programming (MIP) formulations of the collective rationality tests, which can be usefully applied to medium-sized data sets. Next, we propose simulated annealing heuristics, which allow for efficient testing of the collective model in the case of large data sets. We illustrate our methods by a number of computational experiments based on Dutch labor supply data. |
Year | DOI | Venue |
|---|---|---|
2016 | 10.1287/opre.2016.1527 | Periodicals |
Keywords | Field | DocType |
revealed preference axioms,rationality,mixed-integer programming,global optimization,simulated annealing | Simulated annealing,Mathematical optimization,Decision problem,Data set,Rationality,Revealed preference,Global optimization,Algorithm,Integer programming,Heuristics,Mathematics | Journal |
Volume | Issue | ISSN |
64 | 6 | 0030-364X |
Citations | PageRank | References |
3 | 0.48 | 14 |
Authors | ||
6 | ||
Name | Order | Citations | PageRank |
|---|---|---|---|
| Fabrice Talla Nobibon | 1 | 100 | 9.86 |
| Laurens Cherchye | 2 | 129 | 18.61 |
| Yves Crama | 3 | 547 | 63.94 |
| Thomas Demuynck | 4 | 9 | 2.85 |
| B. De Rock | 5 | 36 | 5.91 |
| Frits C. R. Spieksma | 6 | 591 | 58.84 |