Asymmetric demand responses: a demand system approach

Mark G. Brown and Jonq-Ying Lee

No 52719, Research papers from Florida Department of Citrus

Abstract: Asymmetry is introduced into the Rotterdam model by allowing the income response to depend on whether real income increases or decreases. Price responses, in turn, are asymmetric through the general and specific substitution terms. Analysis of data on food and three other broadly defined goods suggests presence of asymmetry.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 17
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:ags:fdcrrp:52719

DOI: 10.22004/ag.econ.52719

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