A SAMPLE SELECTION APPROACH TO CENSORED DEMAND SYSTEMS

A censored demand system estimator is proposed by extending the sample selection model of Heckman. Censoring is governed by a selection mechanism which avoids the restricitve Tobit parameterization. Results of application to household consumption of beverages suggest the estimator produces slightly different elasticity estimates from the Tobit estimator. Demands for beverages are nearly unitary elastic, and net substitution is an obvious pattern.

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Year of publication:	2004
Authors:	Yen, Steven T. ; Lin, Biing-Hwan
Institutions:	Agricultural and Applied Economics Association - AAEA
Subject:	beverages \| censoring \| sample selection \| Translog demand system \| Demand and Price Analysis

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Extent:	application/pdf
Series:	2004 Annual meeting, August 1-4, Denver, CO.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2004 Annual meeting, August 1-4, Denver, CO Number 20082
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005500428