Multivariate AIM Consumer Demand Model Applied to Dried Fruit, Raisins, and Dried Plums
Allen Featherstone () and
No 19291, 2005 Annual meeting, July 24-27, Providence, RI from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
We estimate a semi-nonparametric demand system based on a multivariate version of the Muntz-Szatz series expansion which is called the Asymptotically Ideal Model (AIM). The model is applied to consumer demand for dried fruits, raisins, and dried plums. Results from the first and second order AIM expansions suggest that the second order expansion leads to a more economically consistent model, but the likelihood ratio test indicates the AIM(2) model was not a statistical improvement over the AIM(1) model.
Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea05:19291
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