A Linear Inverse Demand System
We present an inverse demand that can be estimated in a linear form. The model is derived from a specification of the distance function which is parametrically similar to the cost function underlying the Almost Ideal Demand System. Simulation results suggest that this linear inverse demand system has good approximation properties.
Volume (Year): 17 (1992)
Issue (Month): 02 (December)
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- Christensen, Laurits R. & Manser, Marilyn E., 1977. "Estimating U.S. consumer preferences for meat with a flexible utility function," Journal of Econometrics, Elsevier, vol. 5(1), pages 37-53, January.
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- Eales, James S. & Unnevehr, Laurian J., 1994. "The inverse almost ideal demand system," European Economic Review, Elsevier, vol. 38(1), pages 101-115, January.
- Lewbel, Arthur, 1987. "Aids, translog, and the Gorman polar form," Economics Letters, Elsevier, vol. 24(2), pages 161-163.
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