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Cross Entropy Estimation of the Almost Ideal Demand System for Greek Consumption

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  • K. Balcombe
  • G. Rapsomanikis
  • S. Klonaris

Abstract

Cross entropy is used to estimate the Almost Ideal Demand System for consumption in Greece. The entropy estimates are found to improve upon the SUR estimates. It is recommended that practitioners consider employing entropy based procedures in systems where the data set is small, where there are a large number of parameters, or where the data are deficient.

Suggested Citation

  • K. Balcombe & G. Rapsomanikis & S. Klonaris, 2003. "Cross Entropy Estimation of the Almost Ideal Demand System for Greek Consumption," Journal of Agricultural Economics, Wiley Blackwell, vol. 54(3), pages 447-466, November.
    • Handle: RePEc:bla:jageco:v:54:y:2003:i:3:p:447-466
    DOI: 10.1111/j.1477-9552.2003.tb00071.x
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    References listed on IDEAS

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    1. Marsh, Thomas L. & Mittelhammer, Ronald C. & Cardell, N. Scott, 1998. "A Structural-Equation Gme Estimator," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20890, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Harmon, Alice & Preckel, Paul V. & Eales, James S., 1998. "Entropy-Based Seemingly Unrelated Regression," Staff Papers 28682, Purdue University, Department of Agricultural Economics.
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