?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.title=Revealed+preference+analysis+of+characteristics+models&rft.creator=Blow%2C+Laura&rft.creator=Browning%2C+Martin&rft.creator=Crawford%2C+Ian&rft.subject=+%22Organics%22+in+general&rft.subject=+Markets+and+trade&rft.subject=Consumer+issues&rft.subject=Europe&rft.description=Characteristics+models+have+been+found+to+be+useful+in+many+areas+of+economics.+However%2C+their+empirical+implementation+tends+to+rely+heavily+on+functional+form+assumptions.+In+this+paper+we+develop+a+revealed+preference+approach+to+characteristics+models.+We+derive+the+necessary+and+su%C3%82%C2%A2+cient+empirical+conditions+under+which+data+on+the+market+behaviour+of+heterogeneous%2C+price-taking+consumers+are+nonparametrically+consistent+with+the+consumer+characteristics+model.+Where+these+conditions+hold%2C+we+show+how+information+may+be+recovered+on+individual+consumer%C3%A2%C2%80%C2%99s+marginal+valuations+of+product+attributes.+In+some+cases+marginal+valuations+are+point+identi%C3%A2%C2%80%C2%A6ed+and+in+other+cases+we+can+only+recover+bounds.%0D%0AWhere+the+conditions+fail+we+highlight+the+role+which+the+introduction+of+unobserved+product+attributes+can+play+in+rationalising+the+data.+We+implement+these+ideas+using+consumer+panel+data+on+the+Danish+milk+market.&rft.date=2005&rft.type=Journal+paper&rft.type=NonPeerReviewed&rft.format=application%2Fpdf&rft.identifier=http%3A%2F%2Forgprints.org%2F5008%2F1%2F5008.pdf&rft.identifier=Blow%2C+Laura%3B+Browning%2C+Martin+and+Crawford%2C+Ian+(2005)+Revealed+preference+analysis+of+characteristics+models.+Review+of+Economic+Studies.+[+Unpublished%2C+]&rft.relation=http%3A%2F%2Forgprints.org%2F5008%2F