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Chapter 2 The Almost Ideal and Translog Demand Systems

In: Quantifying Consumer Preferences

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  • Matthew T. Holt
  • Barry K. Goodwin

Abstract

This chapter reviews the specification and application of the Deaton and Muellbauer's (1980) almost ideal demand system (AIDS) and the Christensen et al. (1975) translog (TL) demand system. In so doing we examine various refinements to these models, including ways of incorporating demographic effects, methods by which curvature conditions can be imposed, and issues associated with incorporating structural change and seasonal effects. We also review methods for adjusting for autocorrelation in the models' residuals. A set of empirical examples for the AIDS and the log TL version of the translog based on historical meat price and consumption data for the United States are also presented.

Suggested Citation

  • Matthew T. Holt & Barry K. Goodwin, 2009. "Chapter 2 The Almost Ideal and Translog Demand Systems," Contributions to Economic Analysis, in: Quantifying Consumer Preferences, pages 37-59, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:ceazzz:s0573-8555(2009)0000288005
    DOI: 10.1108/S0573-8555(2009)0000288005
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    Cited by:

    1. Muhammad Rizwan YASEEN & Imran QAISER & Nabeela KOUSAR, 2015. "Comparative analysis of the animal products consumption in developing countries: the case study of the South Asian countries," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 61(7), pages 332-342.

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