Log-linear demand systems with differentiated products are inconsistent with the representative consumer approach

Takanori Adachi and Takeshi Ebina

Economics Bulletin, 2016, vol. 36, issue 1, 260-267

Abstract: We argue that log-linear demands with differentiated products, which are viewed as useful modeling from an empirical standpoint, are generated from the representative consumer'Â’s utility only in a restrictive form.

Keywords: Log-linear demands; Product differentiation; Representative consumer approach (search for similar items in EconPapers)
JEL-codes: D4 L1 (search for similar items in EconPapers)
Date: 2016-02-21
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