Demand System Specification and Estimation Book + PRICE WATCH * Amazon pricing is not included in price watch

Demand System Specification and Estimation Book

This study of demand analysis links economic theory to empirical analysis. It demonstrates how theory can be used to specify equation systems suitable for empirical analysis and discusses demand systems estimation using both per capita time series and household budget data.Read More

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  • Product Description

    This book explores the principal issues involved in bridging the gap between the pure theory of consumer behavior and its empirical implementation. The theoretical starting point is the familiar static, one-period, utility maximizing model in which the consumer allocates a fixed budget among competing categories of goods. The authors focus upon four issues of primary importance in empirical demand analysis: the structure of preferences, the treatment of demographic variables, treatment of dynamics, and the specification of the stochastic structure of the demand system.

  • 0195101219
  • 9780195101218
  • Robert A. Pollak, Terence J. Wales
  • 14 December 1995
  • OUP USA
  • Paperback (Book)
  • 232
  • New Ed
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