Product Aggregation Bias as a Specification Error in Demand Systems
American Journal of Agricultural Economics, 1997, vol. 79, issue 1, 100-109
Inherent in all demand studies is some form of product aggregation which can lead to product aggregation bias. This article develops a simple procedure for incorporating product aggregation bias in demand systems that permits testing of product aggregation bias with a standard likelihood ratio test. An empirical illustration of the procedure demonstrates the importance of proper product aggregation. Copyright 1997, Oxford University Press.
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:79:y:1997:i:1:p:100-109
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