ICES Occasional Brown Bag for November 5

Events, Seminars | October 30, 2015

Join us for an ICES Occasional Brown Bag Lecture, featuring Mikhail “Misha” Freer.

Mr. Freer, of George Mason University, will discuss his paper (co-authored with Marco Castillo) Revealed Difference (abstract). The talk will take place on Thursday, November 5th, from 12:00 to 1:00pm, in room 5075 of the Metropolitan Building, Arlington campus.

Coffee and dessert will be provided.

Please visit the Brown Bag Schedule to learn more about the Brown Bag series.

Abstract

How heterogeneous are individual preferences? Are men’s preferences more heterogeneous than women’s? Do preferences become less diverse with age? We use revealed preference analysis to answer these questions. In particular, we investigate the nature of the revealed different relation: two people are revealed different if their decisions considered jointly are less rational than their decisions considered separately. We show that the revealed different relation is useful not only in characterizing the heterogeneity of preferences non-parametrically, but also in evaluating the potential biases generated by imposing additional assumptions on preferences. Using data from a random sample of Dutch population we find that: 1) heterogeneity is a persistent feature of the data, 2) men have more diverse preferences than women and younger people while different from older people are not more diverse, 3) Stricter assumptions on preferences lead to an underestimation of the heterogeneity of preferences.

<<< Back to News Page