A characterization of the composite price variable to approximate a price aggregator function in the Quadratic Almost Ideal Demand System
AbstractIn investigating linear approximations to the Quadratic Almost Ideal Demand System (QUAIDS), Matsuda (2006) proposed a composite variable to approximate a price aggregator function. This paper provides an axiomatic characterization of this composite price variable.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 29 (2009)
Issue (Month): 3 ()
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QUAIDS; Linear approximation; Price aggregator; Characterization;
Find related papers by JEL classification:
- C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
- D1 - Microeconomics - - Household Behavior
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- Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June.
- repec:ubc:bricol:00-16 is not listed on IDEAS
- James Banks & Richard Blundell & Arthur Lewbel, 1997. "Quadratic Engel Curves And Consumer Demand," The Review of Economics and Statistics, MIT Press, vol. 79(4), pages 527-539, November.
- Toshinobu Matsuda, 2006. "Linear approximations to the quadratic almost ideal demand system," Empirical Economics, Springer, vol. 31(3), pages 663-675, September.
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