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Demand elasticities derived from consistent estimation of Heckman-type models

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  • Panagiotis Lazaridis

Abstract

As proved lately, the use of the Inverse Mill's Ratio as a correction factor in the second step of Heckman-type models leads to inconsistent estimates. One area where this type of model has been extensively used is the applied food demand analysis. As a consequence the derived demand elasticities are no longer valid. In this paper the appropriate expressions for demand elasticities are derived and are applied to 23 food items using family budget survey data.

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File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/1350485042000207234&magic=repec&7C&7C8674ECAB8BB840C6AD35DC6213A474B5
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Bibliographic Info

Article provided by Taylor and Francis Journals in its journal Applied Economics Letters.

Volume (Year): 11 (2004)
Issue (Month): 8 ()
Pages: 523-527

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Handle: RePEc:taf:apeclt:v:11:y:2004:i:8:p:523-527

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  1. J. Scott Shonkwiler & Steven T. Yen, 1999. "Two-Step Estimation of a Censored System of Equations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(4), pages 972-982.
  2. Heien, Dale & Wessells, Cathy Roheim, 1990. "Demand Systems Estimation with Microdata: A Censored Regression Approach," Journal of Business & Economic Statistics, American Statistical Association, vol. 8(3), pages 365-71, July.
  3. Andersson, Mari & Senauer, Benjamin, 1994. "Non-Purchasing Households In Food Expenditure Surveys: An Analysis For Potatoes In Sweden," Staff Papers 13232, University of Minnesota, Department of Applied Economics.
  4. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January.
  5. Kellie Curry Raper & Maria Namakhoye Wanzala & Rodolfo Nayga, 2002. "Food expenditures and household demographic composition in the US: a demand systems approach," Applied Economics, Taylor and Francis Journals, vol. 34(8), pages 981-992.
  6. Jensen, Helen H. & Manrique, J., 2001. "Spanish Household Demand for Seafood Products," Staff General Research Papers 10439, Iowa State University, Department of Economics.
  7. Atanu Saha & Oral Capps & Patrick Byrne, 1997. "Calculating marginal effects in dichotomous - continuous models," Applied Economics Letters, Taylor and Francis Journals, vol. 4(3), pages 181-185.
  8. Han, Tong & Cramer, Gail L. & Wahl, Thomas I., 1997. "Rural Household Food Consumption in China: Evidence from the Rural Household Survey," 1997 Annual Meeting, July 13-16, 1997, Reno\Sparks, Nevada 35797, Western Agricultural Economics Association.
  9. John L. Park & Rodney B. Holcomb & Kellie Curry Raper & Oral Capps, 1996. "A Demand Systems Analysis of Food Commodities by U.S. Households Segmented by Income," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(2), pages 290-300.
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Cited by:
  1. Mikkel Barslund, 2011. "Censored Demand System Estimation with Endogenous Expenditures in clustered samples: an application to food demand in urban Mozambique," LICOS Discussion Papers 28011, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
  2. Zhuo Chen & Steven Yen, 2005. "On bias correction in the multivariate sample-selection model," Applied Economics, Taylor and Francis Journals, vol. 37(21), pages 2459-2468.

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