The Income-Demand Curve: Implicit Function and Data Analysis Methods

Shuji Takahashi ()
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Shuji Takahashi: Kanto-Gakuin University

Journal of Quantitative Economics, 2021, vol. 19, issue 1, No 4, 66 pages

Abstract: Abstract By using implicit function, utility and demand functions with inferior goods are developed. It has an advantage in tractability and extendability. But, the systematic data fitting method is not developed yet. This article presents a discussion of this fitting method and other matters: (1) a utility and demand function suitable for data fitting; (2) a systematic method for the data fitting; and (3) a 48-good utility function that generated income demand curves that are well fitted to 48-good data of the Japanese Household Survey 2018.

Keywords: Inferior goods; Income-demand curve; Utility function (search for similar items in EconPapers)
JEL-codes: C4 D01 D11 D2 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/s40953-020-00217-9

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