Testing consumer theory: evidence from a natural field experiment

We present evidence from a natural field experiment designed to shed light on whether individual behavior is consistent with a neoclassical model of utility maximization subject to budget constraints. We do this through the lens of a field experiment on charitable giving. We find that the behavior o...

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Detalles Bibliográficos
Autores principales: Adena, Maja, Huck, Steffen, Rasul, Imran
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer US 2017
Materias:
Original Paper
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6956945/
https://www.ncbi.nlm.nih.gov/pubmed/31998600
http://dx.doi.org/10.1007/s40881-017-0040-3
Descripción
Sumario:We present evidence from a natural field experiment designed to shed light on whether individual behavior is consistent with a neoclassical model of utility maximization subject to budget constraints. We do this through the lens of a field experiment on charitable giving. We find that the behavior of at least 80% of individuals, on both the extensive and intensive margins, can be rationalized within a standard neoclassical choice model in which individuals have preferences, defined over own consumption and their contribution towards the charitable good, satisfying the axioms of revealed preference. ELECTRONIC SUPPLEMENTARY MATERIAL: The online version of this article (10.1007/s40881-017-0040-3) contains supplementary material, which is available to authorized users.

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