A UNIFORM SUBSTITUTE DEMAND MODEL WITH VARYING COEFFICIENTS

Mark G. Brown and Jonq-Ying Lee

Journal of Agricultural and Applied Economics, 2000, vol. 32, issue 01, 10

Abstract: This study extends Barten's synthetic demand modeling approach to increase the flexibility of the uniform substitute specification of the Rotterdam demand system. Marginal propensities to consume (MPC) vary with budget shares and Slutsky coefficients are defined in terms of varying MPCs. An application of the model to orange-juice products shows that the pattern of income and price elasticities over time is much different than when MPCs are restricted to be constant.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:joaaec:15403

DOI: 10.22004/ag.econ.15403

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