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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.
Year of publication:
2002
Authors: Preston, Ian ; Laisney, François ; Crawford, Ian A.
Institutions: Zentrum für Europäische Wirtschaftsforschung (ZEW)
Subject: Consumer demand | unit values
Extent:
application/pdf
Series:
Type of publication: Book / Working Paper
Language: English
Notes:
Number 97-06 [rev.]
Classification: D12 - Consumer Economics: Empirical Analysis ; D11 - Consumer Economics: Theory
Source:
Persistent link: https://www.econbiz.de/10005098095
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