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INCOMPLETE DEMAND SYSTEMS AND SEMILOGARITHMIC DEMAND MODELS

INCOMPLETE DEMAND SYSTEMS AND SEMILOGARITHMIC DEMAND MODELS The methodology of LaFrance and Hanemann for analysing the structure of incomplete demand systems is applied to models that are linear or logarithmic in quantities, prices and/or income. The structure of each model is presented when the implications of consumer choice theory are satisfied. The usefulness of the approach is illustrated. It is shown that considerable prior information is obtained from the theory of consumer choice when it is applied to this set of functional forms for demand equations. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Australian Journal of Agricultural Resource Economics Wiley

INCOMPLETE DEMAND SYSTEMS AND SEMILOGARITHMIC DEMAND MODELS

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Publisher
Wiley
Copyright
Copyright © 1990 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1364-985X
eISSN
1467-8489
DOI
10.1111/j.1467-8489.1990.tb00697.x
Publisher site
See Article on Publisher Site

Abstract

The methodology of LaFrance and Hanemann for analysing the structure of incomplete demand systems is applied to models that are linear or logarithmic in quantities, prices and/or income. The structure of each model is presented when the implications of consumer choice theory are satisfied. The usefulness of the approach is illustrated. It is shown that considerable prior information is obtained from the theory of consumer choice when it is applied to this set of functional forms for demand equations.

Journal

The Australian Journal of Agricultural Resource EconomicsWiley

Published: Aug 1, 1990

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