Consumer preferences and demand systems

William Barnett and Apostolos Serletis

No 200801, WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS from University of Kansas, Department of Economics

Abstract: This paper is an up-to-date survey of the state-of-the art in consumer demand modelling. We review and evaluate advances in a number of related areas, including di§erent approaches to empirical demand analysis, such as the di§erential approach, the locally .exible functional forms approach, the semi-nonparametric approach, and a nonparametric approach. We also address estimation issues, including sampling theoretic and Bayesian estimation methods, and discuss the limitations of the currently common approaches. We also highlight the challenge inherent in achieving economic regularity, for consistency with the assumptions of the underlying neoclassical economic theory, as well as econometric regularity, when variables are nonstationary.

Keywords: representative consumer; Engel curves; rank; flexible functional forms; parametric tests; nonparametric tests; theoretical regularity. (search for similar items in EconPapers)
JEL-codes: D12 E21 (search for similar items in EconPapers)
Pages: 41 pages
Date: 2008-01, Revised 2008-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (106)

Downloads: (external link)
http://www2.ku.edu/~kuwpaper/2008Papers/200801.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www2.ku.edu:80 (A connection attempt failed because the connected party did not properly respond after a period of time, or established connection failed because connected host has failed to respond.)

Related works:
Journal Article: Consumer preferences and demand systems (2008)
Working Paper: Consumer preferences and demand systems (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kan:wpaper:200801

Access Statistics for this paper

More papers in WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS from University of Kansas, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Professor Zongwu Cai ().