Goodness-of-fit in optimizing a consumer model

  • Authors:

  • José Carlos R. Alcantud;Daniel L. Matos;Carlos R. Palmero

  • Affiliations:

  • Facultad de Economía y Empresa, Universidad de Salamanca, E-37008 Salamanca, Spain;Instituto Diego de Praves, E-47005 Valladolid, Spain;Facultad de Ciencias Económicas y Empresariales, Universidad de Valladolid, E-47011 Valladolid, Spain

  • Venue:
  • Mathematical and Computer Modelling: An International Journal
  • Year:
  • 2010

Quantified Score

Hi-index 0.98

Visualization

Abstract

We provide two new indices of efficiency for determining the degree of coherence in an agent's consumption decisions. We analyze to what extent they improve the efficiency displayed by Varian's [9] index. We report on the results of a Monte Carlo experiment that confirms that strict improvements of Varian's vector-index appear on a regular basis.