Estimation of Household Demand Systems with Theoretically Compatible Engel Curves and Unit Value Specifications

We develop a method for estimation of price reactions using unit value data which exploits the implicit links between quantity and unit value choices. This allows us to combine appealing Engel curve specifications with a model of unit value determination in a way which is consistent with demand theory, unlike methods hitherto prominent in the literature. The method is applied to Czech data.

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Year of publication:	2002
Authors:	Preston, Ian ; Laisney, François ; Crawford, Ian A.
Publisher:	Mannheim : Zentrum für Europäische Wirtschaftsforschung (ZEW)
Subject:	Verbraucherausgaben \| Nachfragesystem \| Mikroökonomische Konsumfunktion \| Tschechische Republik \| Consumer demand \| unit values

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Series:	ZEW Discussion Papers ; 97-06 [rev.]
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1024672131 [GVK] hdl:10419/24235 [Handle] RePEc:zbw:zewdip:5115 [RePEc]
Classification:	D12 - Consumer Economics: Empirical Analysis ; D11 - Consumer Economics: Theory
Source:	EconStor

Persistent link: https://www.econbiz.de/10010297551