Specification and Estimation of Demographic Demand Systems, Equivalence Scales with Selective Empirical Evidence
Ranjan Ray
Chapter Chapter 2 in Household Behaviour, Prices, and Welfare, 2018, pp 9-33 from Springer
Abstract:
Abstract The standard approach to demand specification is to either assume a functional form for the utility function and maximise it subject to the individual’s budget constraint or minimise the individual’s cost or expenditure function subject to the utility set at a prespecified value.
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:thechp:978-981-13-1930-3_2
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DOI: 10.1007/978-981-13-1930-3_2
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