Nesting Quadratic Logarithmic Demand Systems

Panayiota Lyssiotou, Panos Pashardes and Thanasis Stengos

University of Cyprus Working Papers in Economics from University of Cyprus Department of Economics

Abstract: We propose a new generalised rank-3 demand system which nests all known (and new) rank-3 and rank-2 demand systems derived from the Quadratic Logarithmic (QL) cost function. We investigate its statistical adequacy against commonly en-countered alternatives using U.K. household data.

Keywords: quadratic Logarithmic demand systems; rank-3 demand systems; individual household data. (search for similar items in EconPapers)
Pages: 13 pages
Date: 2001-10
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Journal Article: Nesting quadratic logarithmic demand systems (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:ucy:cypeua:0201

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