HOUSEHOLD COST FUNCTIONS AND EQUIVALENCE SCALES

Bernard van Praag and N. L. van der Sar

No 272358, Econometric Institute Archives from Erasmus University Rotterdam

Abstract: In this paper we describe a simple method to estimate household cost functions and family equivalence scales. It is an alternative to standard methods as it does not assume strong postulates about utility maximization nor any functionally specified model equations. The data requirements are extremely modest. We assume interpersonal ordinal comparability in the sense of Sen (1976). Empirical evidence for eight European countries and the U.S.A. shows the feasibility of the method and the stability of its results.

Keywords: Consumer/Household Economics; Financial Economics (search for similar items in EconPapers)
Pages: 36
Date: 1986
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Citations: View citations in EconPapers (1)

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Working Paper: HOUSEHOLD COST FUNCTIONS AND EQUIVALENCE SCALES (1985)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:eureia:272358

DOI: 10.22004/ag.econ.272358

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