The Differential Approach to Demand Analysis and the Rotterdam Model

William Barnett () and Apostolos Serletis ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper presents the differential approach to applied demand analysis. The demand systems of this approach are general, having coefficients which are not necessarily constant. We consider the Rotterdam parameterization of differential demand systems and derive the absolute and relative price versions of the Rotterdam model, due to Theil (1965) and Barten (1966). We address estimation issues and point out that, unlike most parametric and semi-nonparametric demand systems, the Rotterdam model is econometrically regular.

Keywords: differential demand systems; theoretical regularity; econometric regularity (search for similar items in EconPapers)
JEL-codes: D12 C52 E21 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac
Date: 2008-12-10
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Related works:
Working Paper: The Differential Approach to Demand Analysis and the Rotterdam Model (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:pra:mprapa:12319

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