THE INVERSE LEWBEL DEMAND SYSTEM

James S. Eales

Journal of Agricultural and Resource Economics, 1994, vol. 19, issue 01, 10

Abstract: A new model of consumer preferences is introduced. It is appropriate for modeling perishable commodities which are produced with a lag, where it is reasonable to assume the market-level quantities are fixed by previously made production decisions. The inverse Lewbel system, as it is called, is a flexible nonlinear system of share equations, which nests two other inverse demand systems, the direct translog and the inverse AIDS. Thus, the inverse Lewbel may be employed to test whether these more restrictive preference structures are appropriate. In an application to quarterly U.S. meat consumption, the more restrictive structures are rejected.

Keywords: Consumer/Household; Economics (search for similar items in EconPapers)
Date: 1994
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
https://ageconsearch.umn.edu/record/31227/files/19010173.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:jlaare:31227

DOI: 10.22004/ag.econ.31227

Access Statistics for this article

More articles in Journal of Agricultural and Resource Economics from Western Agricultural Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().