Samuelson´s full duality and the use of directed acyclical graphs

Matthew Stockton (), Oral Capps Jr. and David Bessler ()
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Oral Capps Jr.: Texas A & M University, http://agecon.tamu.edu/people/faculty/capps-oral.shtml
Authors registered in the RePEc Author Service: Oral Capps, Jr. and ORAL CAPPS Jr.

Journal of Applied Economics, 2008, vol. 11, 167-191

Abstract: To date, mixed demand systems have been all but ignored in empirical work. A possible reason for the scarcity of such applications is that one needs to know a priori which prices and quantities are endogenous in the mixed demand system. By using a directed acyclical graph (DAG), causal relationships among price and quantity variables are identified giving rise to a causally identified mixed demand system. A statistical comparison is made of the traditional Rotterdam model, a synthetic demand system, which subsumes the traditional Rotterdam model, and a Rotterdam mixed demand system identified through the use of a DAG. In this analysis, the respective demand systems consist of five products: steak, ground beef, beef roasts, pork, and chicken.

Keywords: directed acyclic graphs; mixed demand systems (search for similar items in EconPapers)
JEL-codes: D11 D12 (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:cem:jaecon:v:11:y:2008:n:1:p:167-191

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