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Preference Heterogeneity and the Rank of Demand Systems

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  • Lyssiotou, Panayiota
  • Pashardes, Panos
  • Stengos, Thanasis

Abstract

This article examines the effect of preference heterogeneity on nonparametric and parametric tests of the rank of demand systems. Using samples of households drawn from the U.K. Family Expenditure Survey, the authors find that preference heterogeneity increases the rank of demand systems. When the effects of household characteristics on demand are removed by semiparametric techniques, a rank-three demand system appears to be an adequate empirical specification for all samples.

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Bibliographic Info

Article provided by American Statistical Association in its journal Journal of Business and Economic Statistics.

Volume (Year): 17 (1999)
Issue (Month): 2 (April)
Pages: 248-52

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Handle: RePEc:bes:jnlbes:v:17:y:1999:i:2:p:248-52

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Cited by:
  1. Panos Pashardes & Soteroula Hajispyrou, 2002. "Consumer Demand and Welfare under Increasing Block Pricing," University of Cyprus Working Papers in Economics 0207, University of Cyprus Department of Economics.
  2. Thanasis Stengos & Dianqin Wang, 2007. "Testing for Shape Invariance of Semiparametric Equivalence Scales," Economics Bulletin, AccessEcon, vol. 4(21), pages 1-11.
  3. Lyssiotou, Panayiota & Pashardes, Panos & Stengos, Thanasis, 2002. "Nesting quadratic logarithmic demand systems," Economics Letters, Elsevier, vol. 76(3), pages 369-374, August.
  4. Arthur Lewbel, 2000. "A Rational Rank Four Demand System," Boston College Working Papers in Economics 463, Boston College Department of Economics, revised 04 Apr 2003.
  5. Michael Haliassos, 2002. "Stockholding: Recent Lessons from Theory and Computations," University of Cyprus Working Papers in Economics 0206, University of Cyprus Department of Economics.
  6. Yiguo Sun & Thanasis Stengos & Dianqin Wang, 2006. "Estimates of semiparametric equivalence scales," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 21(5), pages 629-639.
  7. Panayiota Lyssiotou & Panos Pashardes & Thanasis Stengos, 2008. "Demographic versus expenditure flexibility in Engel curves," Empirical Economics, Springer, vol. 34(2), pages 257-271, March.
  8. Hatzipanayotou, Panos & Sajal Lahiri & Michael S.Michael, 2002. "Reforms of Environmental Policies in the presence of Cross-border Pollution and Two-stage Clean-up," Royal Economic Society Annual Conference 2002 97, Royal Economic Society.
  9. Lyssiotou, Panayiota & Pashardes, Panos & Stengos, Thanasis, 1999. "Testing the rank of Engel curves with endogenous expenditure," Economics Letters, Elsevier, vol. 64(1), pages 61-65, July.
  10. Unayama, Takashi, 2004. "Upward bias in the consumer price index under the zero-inflation economy," Economics Letters, Elsevier, vol. 85(1), pages 139-144, October.
  11. repec:ebl:ecbull:v:4:y:2007:i:21:p:1-11 is not listed on IDEAS

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