{"title":"Consistent subsets: Computing the Houtman–Maks index in Stata","authors":"Marcos Demetry, P. Hjertstrand","doi":"10.1177/1536867X231175345","DOIUrl":null,"url":null,"abstract":"The Houtman–Maks index is a measure of the size of a violation of utility-maximizing (that is, rational) behavior. In this article, we introduce the command hmindex, which calculates the Houtman–Maks index for a dataset of prices and observed choices of a consumer. The command is illustrated with an empirical application.","PeriodicalId":51171,"journal":{"name":"Stata Journal","volume":null,"pages":null},"PeriodicalIF":3.2000,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Stata Journal","FirstCategoryId":"100","ListUrlMain":"https://doi.org/10.1177/1536867X231175345","RegionNum":2,"RegionCategory":"数学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"SOCIAL SCIENCES, MATHEMATICAL METHODS","Score":null,"Total":0}
引用次数: 0
Abstract
The Houtman–Maks index is a measure of the size of a violation of utility-maximizing (that is, rational) behavior. In this article, we introduce the command hmindex, which calculates the Houtman–Maks index for a dataset of prices and observed choices of a consumer. The command is illustrated with an empirical application.
期刊介绍:
The Stata Journal is a quarterly publication containing articles about statistics, data analysis, teaching methods, and effective use of Stata''s language. The Stata Journal publishes reviewed papers together with shorter notes and comments, regular columns, book reviews, and other material of interest to researchers applying statistics in a variety of disciplines.