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Stochastic Hicksian Aggregation with an Application to Grouping Goods without Separable Utility

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  • Arthur Lewbel

Abstract

The concept of stochastic Hicksian aggregation is introduced to eliminate the bias associated with aggregating imperfectly correlated variables. This paper describes stochastic Hicksian aggregation, and uses it to estimate demands for groups of goods without assuming separable utility. Separability is a restrictive behavioral assumption that is difficult to test powerfully. In contrast, Stochastic Hicksian aggregation is easily testable without reference to any demand system, and essentially requires only the commonly observed property that within group prices be highly correlated.

Suggested Citation

  • Arthur Lewbel, 1993. "Stochastic Hicksian Aggregation with an Application to Grouping Goods without Separable Utility," Annals of Economics and Statistics, GENES, issue 29, pages 17-42.
    • Handle: RePEc:adr:anecst:y:1993:i:29:p:17-42
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    File URL: http://www.jstor.org/stable/20075894
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    Cited by:

    1. Shumway, C. Richard & Davis, George C., 2001. "Does consistent aggregation really matter?," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 45(2), pages 1-34.
    2. Crawford, Ian & Laisney, Francois & Preston, Ian, 2003. "Estimation of household demand systems with theoretically compatible Engel curves and unit value specifications," Journal of Econometrics, Elsevier, vol. 114(2), pages 221-241, June.
    3. Dimova, Ralitza & Gang, Ira N. & Gbakou, Monnet Benoit Patrick & Hoffman, Daniel, 2011. "Can Economic Crises Be Good for Your Diet?," IZA Discussion Papers 5610, Institute of Labor Economics (IZA).
    4. Ralitza Dimova & Ira N. Gang & Monnet B.P. Gbakou & Daniel Hoffman, 2014. "The Impact of Food and Economic Crises on Diet and Nutrition," Journal of Development Studies, Taylor & Francis Journals, vol. 50(12), pages 1687-1699, December.
    5. Davis, George C. & You, Wen, 2013. "Estimates of returns to scale, elasticity of substitution, and the thrifty food plan meal poverty rate from a direct household meal production function," Food Policy, Elsevier, vol. 43(C), pages 204-212.

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