Why is demand homogeneity so often rejected? |
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Authors: | Kenneth Laitinen |
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Institution: | The University of Chicago, Chicago, IL 60637, USA |
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Abstract: | Several statistical tests have indicated that homogeneity of consumer demand must be rejected see, e.g., Barten (1969), Byron (1970), Lluch (1971), and Deaton (1974)]. A simulation experiment shows that the standard test is seriously biased toward rejecting this hypothesis. For the case presented, a small sample interpretation of the test statistic explains this bias. |
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