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INFORMATION BASED MODEL AVERAGING AND INTERNAL METANALYSIS IN SEEMINGLY UNRELATED REGRESSIONS WITH AN APPLICATION TO A DEMAND SYSTEM

Henry L. Bryant and George Davis

No 21918, 2003 Annual meeting, July 27-30, Montreal, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This paper presents an information based model averaging and internal meta-analysis procedure that is easily applied to a large model space. In the application, the procedure is used to investigate the efficacy of some recently contested commodity promotion programs. The investigated model space consists of 576 demand systems. The internal meta-analysis indicates that theoretical restrictions and evaluation points are more important than alternative functional forms and explanatory variables in determining the elasticity values. The model averaging weights strongly support the theoretically consistent classical demand systems without promotion. The weighted or meta-price and meta-expenditure elasticities are presented and discussed.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 37
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea03:21918

DOI: 10.22004/ag.econ.21918

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