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Estimation of Demand Parameters Based on Factor Analysis

Author

Listed:
  • Huang, Chung Liang
  • Raunikar, Robert
  • Fletcher, Stanley M.

Abstract

A regression equation is derived from factor analysis. U.S. regional demands for at-home consumption of ground beef are estimated from the 1972-73 BLS Consumer Expenditure Diary Survey. Empirical results suggest that factor analysis is a viable alternative to conventional OLS procedure when there is error in the variables.

Suggested Citation

  • Huang, Chung Liang & Raunikar, Robert & Fletcher, Stanley M., 1980. "Estimation of Demand Parameters Based on Factor Analysis," 1980 Annual Meeting, July 27-30, Urbana-Champaign, Illinois 278913, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea80:278913
    DOI: 10.22004/ag.econ.278913
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    References listed on IDEAS

    as
    1. King, Benjamin, 1969. "Comment on "Factor Analysis and Regression."," Econometrica, Econometric Society, vol. 37(3), pages 538-540, July.
    2. John P. Doll & Sean B. Chin, 1970. "A Use for Principal Components in Price Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 52(4), pages 591-593.
    Full references (including those not matched with items on IDEAS)

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