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Per Hjertstrand

Associate Professor

Per Hjertstrand has a Ph.D. degree in Economics from Lund University 2008. Between 2008 and 2012 he was a teacher and researcher at the Department of Economics at Lund University. During this period, he was also a frequent visitor and teacher at Hanken School of Economics in Helsinki.

Affiliated Researcher

Contact

Per Hjertstrand

per.hjertstrand@ifn.se

Research interests: Behavioral economics, Consumption, Econometrics

Among the questions that Per Hjertstrand tries to answer with his research:

Is it possible to test whether firms maximize profits and minimize costs? If so, how are these hypotheses tested?
If it can be tested, does data show that firms efficiently maximize profits and minimize costs?
How to test if individuals/households maximize utility when consuming goods and services?
Does data show that individuals/households efficiently maximize utility?
What kind of information and how much information about the preferences of individuals, households and firms can be found in consumption and production data?

Current writings

20 September 2023

Journal of Optimization Theory and Applications

On the Curvature of Homogeneous Function

Journal Article

by Per Hjertstrand

03 July 2023

Journal of Economic Dynamics and Control

Testing for Weak Separability and Utility Maximization with Incomplete Adjustment

Journal Article

by Per Hjertstrand, James L. Swofford, Gerald A. Whitney

29 June 2023

Stata Journal

Consistent Subsets: Computing the Houtman-Maks Index in Stata

Journal Article

by Per Hjertstrand, Marcos Demetry

Published at IFN

Journal Articles

20 September 2023 Hjertstrand, Per (2023). “On the Curvature of Homogeneous Function”. Journal of Optimization Theory and Applications 198(1), 215–223. doi.org/10.1007/s10957-023-02249-6

03 July 2023 Hjertstrand, Per, James L. Swofford and Gerald A. Whitney (2023). “Testing for Weak Separability and Utility Maximization with Incomplete Adjustment”. Journal of Economic Dynamics and Control 152, 104671. doi.org/10.1016/j.jedc.2023.104671

29 June 2023 Hjertstrand, Per and Marcos Demetry (2023). “Consistent Subsets: Computing the Houtman-Maks Index in Stata”. Stata Journal 23(2), 578–588. doi.org/10.1177/1536867X231175345

15 August 2022 Demetry, Marcos, Per Hjertstrand and Matthew Polisson (2022). “Testing Axioms of Revealed Preference in Stata”. Stata Journal 22(2), 319–343. doi.org/10.1177/1536867X221106374

16 June 2021 Hjertstrand, Per (2021). “Power Against Random Expenditure Allocation for Revealed Preference Tests”. Journal of Economic Behavior & Organization 188, 36–45. doi.org/10.1016/j.jebo.2021.05.001

26 January 2021 Hjertstrand, Per, James Swofford and Gerald Whitney (2021). “Index Numbers and Revealed Preference Rankings”. Macroeconomic Dynamics 25(1), 81–99. doi.org/10.1017/S1365100518000597

01 June 2019 Hjertstrand, Per and James L. Swofford (2019). “Revealed Preference Tests of Indirect and Homothetic Weak Separability of Financial Assets, Consumption and Leisure”. Journal of Financial Stability 42, 108–114. doi.org/10.1016/j.jfs.2019.05.009

03 April 2019 Heufer, Jan and Per Hjertstrand (2019). “Homothetic Efficiency: Theory and Applications”. Journal of Business & Economic Statistics 37(2), 235–247. doi.org/10.1080/07350015.2017.1319372

01 January 2019 Heufer, Jan and Per Hjertstrand (2019). “Homothetic Preferences Revealed”. Journal of Economic Behavior & Organization 157, 602–614. doi.org/10.1016/j.jebo.2018.10.018

01 October 2017 Färnstrand Damsgaard, Erika, Per Hjertstrand, Pehr‐Johan Norbäck, Lars Persson and Helder Vasconcelos (2017). “Why Entrepreneurs Choose Risky R&D Projects – But Still Not Risky Enough”. Economic Journal 127(605), F164–F199. doi.org/10.1111/ecoj.12470

01 October 2016 Hjertstrand, Per, James L. Swofford and Gerald A. Whitney (2016). “Mixed Integer Programming Revealed Preference Tests of Utility Maximization and Weak Separability of Consumption, Leisure and Money”. Journal of Money, Credit and Banking 48(7), 1547–1561. doi.org/10.1111/jmcb.12342

01 May 2015 Cherchye, Laurens, Thomas Demuynck, Bram De Rock and Per Hjertstrand (2015). “Revealed Preference Tests for Weak Separability: An Integer Programming Approach”. Journal of Econometrics 186(1), 129–141. doi.org/10.1016/j.jeconom.2014.07.001

01 March 2015 Heufer, Jan and Per Hjertstrand (2015). “Consistent Subsets: Computationally Feasible Methods to Compute the Houtman–Maks–Index”. Economics Letters 128, 87–89. doi.org/10.1016/j.econlet.2015.01.024

01 June 2014 Hjertstrand, Per and James L. Swofford (2014). “Are the Choices of People Stochastically Rational? A Stochastic Test of the Number of Revealed Preference Violations”. Empirical Economics 46(4), 1495–1519. doi.org/10.1007/s00181-013-0724-3

01 April 2014 Westerlund, Joakim and Per Hjertstrand (2014). “Indirect Estimation of Semiparametric Binary Choice Models”. Oxford Bulletin of Economics and Statistics 76(2), 298–314. doi.org/10.1111/obes.12000

Book Chapters

01 January 2020 Demuynck, Thomas and Per Hjertstrand (2020). “Samuelson’s Approach to Revealed Preference Theory: Some Recent Advances”. In Robert A. Cord, Richard G. Anderson and William A. Barnett (Eds.), Paul Samuelson: Master of Modern Economics (193–227). London: Palgrave Macmillan. doi.org/10.1057/978-1-137-56812-0_9

Working Papers

01 December 2022 Hjertstrand, Per and Marcos Demetry (2022). “Consistent Subsets: Computing the Houtman-Maks Index in Stata”. IFN Working Paper No. 1446. Stockholm: Research Institute of Industrial Economics (IFN).

11 May 2022 Hjertstrand, Per (2022). “Nonparametric Analysis of the Mixed-Demand Model”. IFN Working Paper No. 1430. Stockholm: Research Institute of Industrial Economics (IFN).

15 June 2020 Demetry, Marcos, Per Hjertstrand and Matthew Polisson (2020). “Testing Axioms of Revealed Preference in Stata”. IFN Working Paper No. 1342. Stockholm: Research Institute of Industrial Economics (IFN).

30 March 2020 Hjertstrand, Per (2020). “On the Curvature of Homogeneous Function”. IFN Working Paper No. 1328. Stockholm: Research Institute of Industrial Economics (IFN).

25 March 2020 Hjertstrand, Per, James L. Swofford and Gerald A. Whitney (2020). “Testing for Weak Separability and Utility Maximization with Incomplete Adjustment”. IFN Working Paper No. 1327. Stockholm: Research Institute of Industrial Economics (IFN).

17 March 2020 Hjertstrand, Per (2020). “Income Elasticities Without Parameters”. IFN Working Paper No. 1324. Stockholm: Research Institute of Industrial Economics (IFN).

26 February 2020 Aguiar, Victor H., Per Hjertstrand and Roberto Serrano (2020). “A Rationalization of the Weak Axiom of Revealed Preference”. IFN Working Paper No. 1321. Stockholm: Research Institute of Industrial Economics (IFN).

03 December 2019 Hjertstrand, Per (2019). “Power Against Random Expenditure Allocation for Revealed Preference Tests”. IFN Working Paper No. 1309. Stockholm: Research Institute of Industrial Economics (IFN).

28 November 2019 Hjertstrand, Per, James L. Swofford and Gerald A. Whitney (2019). “Index Numbers and Revealed Preference Rankings”. IFN Working Paper No. 1308. Stockholm: Research Institute of Industrial Economics (IFN).

23 April 2019 Demuynck, Thomas and Per Hjertstrand (2019). “Samuelson's Approach to Revealed Preference Theory: Some Recent Advances”. IFN Working Paper No. 1274. Stockholm: Research Institute of Industrial Economics (IFN).

09 November 2017 Heufer, Jan and Per Hjertstrand (2017). “Homothetic Preferences Revealed”. IFN Working Paper No. 1187. Stockholm: Research Institute of Industrial Economics (IFN).

22 June 2017 Hjertstrand, Per, Pehr-Johan Norbäck and Lars Persson (2017). “The Educated Underdog Becomes the Ultimate Superstar”. IFN Working Paper No. 1176. Stockholm: Research Institute of Industrial Economics (IFN).

21 November 2013 Hjertstrand, Per (2013). “A Simple Method to Account for Measurement Errors in Revealed Preference Tests”. IFN Working Paper No. 990. Stockholm: Research Institute of Industrial Economics (IFN).

04 September 2013 Hjertstrand, Per and Barry E. Jones (2013). “What Do Revealed Preference Axioms Reveal about Elasticities of Demand?”. IFN Working Paper No. 972. Stockholm: Research Institute of Industrial Economics (IFN).

02 September 2013 Hjertstrand, Per, James L. Swofford and Gerald A. Whitney (2013). “Revealed Preference Tests of Utility Maximization and Weak Separability of Consumption, Leisure and Money with Incomplete Adjustment”. IFN Working Paper No. 971. Stockholm: Research Institute of Industrial Economics (IFN).

Popular Science

23 January 2017 Färnstrand Damsgaard, Erika, Per Hjertstrand, Pehr-Johan Norbäck, Lars Persson and Helder Vasconcelos (2017). “Fostering Breakthrough Entrepreneurship”. VoxEU.org, January 23.