ESTIMATION OF A DEMAND SYSTEM WITH LIMITED DEPENDENT VARIABLES

Chung L. Huang and Steven T. Yen

No 19592, 2002 Annual meeting, July 28-31, Long Beach, CA from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: The study employs the full-information maximum-likelihood method to estimate a censored translog demand system. U.S. household consumption of steak, roast, and ground beef are used to demonstrate the application of the estimation procedure. The proposed methodology produces more efficient estimates than the popular two-step procedures found in demand literature.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 23
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea02:19592

DOI: 10.22004/ag.econ.19592

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