A SAMPLE SELECTION APPROACH TO CENSORED DEMAND SYSTEMS

Steven T. Yen and Biing-Hwan Lin

No 20082, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: A censored demand system estimator is proposed by extending the sample selection model of Heckman. Censoring is governed by a selection mechanism which avoids the restricitve Tobit parameterization. Results of application to household consumption of beverages suggest the estimator produces slightly different elasticity estimates from the Tobit estimator. Demands for beverages are nearly unitary elastic, and net substitution is an obvious pattern.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 17
Date: 2004
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Related works:
Journal Article: A Sample Selection Approach to Censored Demand Systems (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20082

DOI: 10.22004/ag.econ.20082

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