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Family expenditure data, heteroscedasticity and the Law of Demand

Authors
Journal
Ricerche Economiche
0035-5054
Publisher
Elsevier
Publication Date
Volume
47
Issue
2
Identifiers
DOI: 10.1016/0035-5054(93)90016-v
Keywords
  • Family Expenditure Surveys
  • Cross-Sectional Data Analysis
  • Non-Parametric Estimation
  • Weak Axiom
  • Law Of Demand

Abstract

Abstract This paper presents some results of a data analysis of Family Expenditure Surveys for the United Kingdom and France. It is shown that these data sets exhibit characteristic features that we call “increasing spread” and “increasing dispersion”. Statistical tools used for analysing the data are discussed. They are based on concepts from non-parametric regression and average derivative estimation. One can show that increasing dispersion supports the weak axiom of revealed preferences of the market demand function. Increasing spread provides empirical evidence for the Law of Demand.

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