Market Response Analysis: The Demand System versus Non-Restricted Marketing Models
AbstractThere are different views on the specifications of market share models between economists and marketing researchers. The paper made a multi-criteria comparison between the two well-known demand system models, the AIDS and Translog model that are subject to the symmetry and homogeneity restrictions, and the two-market response models in which the symmetry and homogeneity restrictions are not imposed. The results indicate that the two-market response models outperform the two demand system models. This implies some underlying assumptions on which the demand models are derived are not satisfied for the Australian domestic meat market
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Bibliographic InfoPaper provided by Econometric Society in its series Econometric Society 2004 Australasian Meetings with number 116.
Date of creation: 11 Aug 2004
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Keywords: Model Comparisons; Demand System; Market Share; Market Response Model.;
Find related papers by JEL classification:
- C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
- C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
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