A nonparametric characteristics model of the demand for milk

Kurzfassung

Characteristics models in demand analysis capture the idea that people value goods not For the commodity itself but for the characteristics (or attributes) or embodied in the good. For example, agents may care about the fat content and the taste of different sorts of milk but not the actual type of milk. When we have fewer characteristics than types of good the theory imposes restrictions on observables. We present a revealed preference characteristics model analysis of the demand for milk in Denmark.