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A Family of Inverse Demand Systems and Choice of Functional Form

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  • Brown, Mark G
  • Lee, Jonq-Ying
  • Seale, James L, Jr

Abstract

Barten's (1992) analysis of choice of functional form for quantity-dependent demand systems is extended to price-dependent or inverse demand systems. Alternative inverse demand systems combining the features of the Rotterdam inverse demand and almost ideal inverse demand systems are examined. Choice of functional form is made through a synthetic model which under appropriate restrictions yields the different inverse demand systems. The synthetic model itself can also be considered a more flexible specification.

Suggested Citation

  • Brown, Mark G & Lee, Jonq-Ying & Seale, James L, Jr, 1995. "A Family of Inverse Demand Systems and Choice of Functional Form," Empirical Economics, Springer, vol. 20(3), pages 519-530.
  • Handle: RePEc:spr:empeco:v:20:y:1995:i:3:p:519-30
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    Cited by:

    1. Fousekis, Panos & Revell, Brian J., 2000. "Meat Demand in the UK: A Differential Approach," Journal of Agricultural and Applied Economics, Cambridge University Press, pages 11-19.
    2. Chiang, Fu-Sung & Lee, Jonq-Ying & Brown, Mark G., 2001. "The Impact Of Inventory On Tuna Price: An Application Of Scaling In The Rotterdam Inverse Demand System," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 33(03), December.
    3. Chin-Hwa Jenny Sun & Fu-Sung Chiang & Dale Squires, 2017. "More Landings for Higher Profit? Inverse Demand Analysis of the Bluefin Tuna Auction Price in Japan and Economic Incentives in Global Bluefin Tuna Fisheries Management," Working Papers 1701, Institute of Applied Economics, National Taiwan Ocean University, Taiwan, revised Aug 2017.
    4. Jung, Jione, 2009. "Effects Of The Suspension Agreement: U.S.-Mexico Fresh Tomatoes Antidumping Case," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49285, Agricultural and Applied Economics Association.
    5. Robert H. Beach & Matthew T. Holt, 2001. "Incorporating Quadratic Scale Curves in Inverse Demand Systems," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, pages 230-245.
    6. Vasiliki Fourmouzi & Margarita Genius & Vangelis Tzouvelekas, 2006. "The Demand for Organic, Integrated-Agriculture, and Conventional Fresh Vegetables: A Censored Inverse Almost Ideal Demand System," Working Papers 0618, University of Crete, Department of Economics.
    7. Harri, Ardian & Brorsen, B. Wade & Muhammad, Andrew & Anderson, John D., 2010. "Estimating a Demand System with Seasonally Differenced Data," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 42(02), May.
    8. Gary Wong & Qiao Yu, 2001. "Inverse Demand Systems for Composite Liquid Assets: Evidence from China," School of Economics and Finance Discussion Papers and Working Papers Series 097, School of Economics and Finance, Queensland University of Technology.
    9. Eric Sjöberg, 2014. "Pricing the Fish Market- Does size matter?," Working Paper Series, Department of Economics, University of Utah 2014_01, University of Utah, Department of Economics.
    10. Maynard, Leigh J. & Veeramani, Venkat N., 2003. "Price Sensitivities for U.S. Frozen Dairy Products," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 35(03), December.
    11. Lee, Young-Jae & Kennedy, P. Lynn, 2008. "An Examination of Inverse Demand Models: An Application to the U.S. Crawfish Industry," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 37(2), October.
    12. Holt, Matthew T., 2002. "Inverse demand systems and choice of functional form," European Economic Review, Elsevier, vol. 46(1), pages 117-142, January.
    13. Panos Fousekis & Brian J. Revell, 2002. "Primary Demand for Red Meats in the United Kingdom," Cahiers d'Economie et Sociologie Rurales, INRA Department of Economics, vol. 63, pages 31-50.
    14. Lee, Min-Yang A. & Thunberg, Eric M., 2012. "An Inverse Demand System for New England Groundfish: Welfare Analysis of the Transition to Catch Share Management," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 123879, Agricultural and Applied Economics Association.
    15. Gary K.K. Wong & Keith R. McLaren, 2002. "Regular and Estimable Inverse Demand Systems: A Distance Function Approach," Monash Econometrics and Business Statistics Working Papers 6/02, Monash University, Department of Econometrics and Business Statistics.

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