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References (4)
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J. Hicks (1957)
A Revision of Demand TheoryOUP Catalogue
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L. Christensen, D. Jorgenson, L. Lau (1975)
Transcendental Logarithmic Utility FunctionsThe American Economic Review, 65
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R. Carter, A. Nagar (1977)
Coefficients of correlation for simultaneous equation systemsJournal of Econometrics, 6
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D. Hendry (1971)
Maximum Likelihood Estimation of Systems of Simultaneous Regression Equations with Errors Generated by a Vector Autoregressive Process: A CorrectionInternational Economic Review, 15
- Publisher
- Wiley
- Copyright
- Copyright © 1979 Wiley Subscription Services, Inc., A Wiley Company
- ISSN
- 1364-985X
- eISSN
- 1467-8489
- DOI
- 10.1111/j.1467-8489.1979.tb00245.x
- Publisher site
- See Article on Publisher Site
Abstract
Equations describing the demand for beef and veal, mutton, lamb, pork and chicken are estimated using the full information maximum likelihood estimator. Elasticity estimates are presented and the double logarithmic model is compared with a demand system which is derived from the indirect translog utility function. Estimates of the direct price and income elasticities are not particularly sensitive to model specification but the estimated cross‐price elasticities are sensitive to the choice of functional form. The results indicate that the double logarithmic specification may be less satisfactory than the alternative presented in cases where restrictions on the parameters are imposed during estimation.
Journal
The Australian Journal of Agricultural Resource Economics – Wiley
Published: Dec 1, 1979