Consumer Demand—Empirical Analysis II

Michael K. Wohlgenant ()
Additional contact information
Michael K. Wohlgenant: North Carolina State University

Chapter Chapter 5 in Market Interrelationships and Applied Demand Analysis, 2021, pp 55-77 from Palgrave Macmillan

Abstract: Abstract This chapter focuses on empirical application of the system of demand functions approach using the Rotterdam model (RM) and Almost Ideal Demand System (AIDS). Attention is given to the nature of the data sets typically available for use in time series analysis. I discuss issues involved in implementation and interpretation using data sets created for estimation of US demand for meats. In the process, an evaluation is made of the relative performance of the RM and AIDS models. Both conditional and unconditional demand elasticities are estimated using results from two-stage budgeting in Chapter 3 . Extensions of the analysis to imposing negative definiteness are indicated. Other data sets besides USDA disappearance are discussed.

Date: 2021
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:psachp:978-3-030-73144-1_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9783030731441

DOI: 10.1007/978-3-030-73144-1_5

Access Statistics for this chapter

More chapters in Palgrave Studies in Agricultural Economics and Food Policy from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().