Demand elasticities derived from consistent estimation of Heckman-type models
As proved lately, the use of the Inverse Mill's Ratio as a correction factor in the second step of Heckman-type models leads to inconsistent estimates. One area where this type of model has been extensively used is the applied food demand analysis. As a consequence the derived demand elasticities are no longer valid. In this paper the appropriate expressions for demand elasticities are derived and are applied to 23 food items using family budget survey data.
Volume (Year): 11 (2004)
Issue (Month): 8 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/RAEL20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/RAEL20|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Manrique, J. & Jensen, Helen H., 1999.
"Spanish Household Demand for Seafood Products,"
Staff General Research Papers
10527, Iowa State University, Department of Economics.
- Manrique, Justo & Jensen, Helen H., 1998. "Spanish Household Demand For Seafood Products," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20997, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Jensen, Helen H. & Manrique, J., 2001. "Spanish Household Demand for Seafood Products," Staff General Research Papers 10439, Iowa State University, Department of Economics.
- J. Scott Shonkwiler & Steven T. Yen, 1999. "Two-Step Estimation of a Censored System of Equations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(4), pages 972-982.
- Han, Tong & Cramer, Gail L. & Wahl, Thomas I., 1997. "Rural Household Food Consumption in China: Evidence from the Rural Household Survey," 1997 Annual Meeting, July 13-16, 1997, Reno\Sparks, Nevada 35797, Western Agricultural Economics Association.
- Atanu Saha & Oral Capps & Patrick Byrne, 1997. "Calculating marginal effects in dichotomous - continuous models," Applied Economics Letters, Taylor & Francis Journals, vol. 4(3), pages 181-185.
- Andersson, Mari & Senauer, Benjamin, 1994. "Non-Purchasing Households In Food Expenditure Surveys: An Analysis For Potatoes In Sweden," Staff Papers 13232, University of Minnesota, Department of Applied Economics.
- Heckman, James J, 1979.
"Sample Selection Bias as a Specification Error,"
Econometric Society, vol. 47(1), pages 153-61, January.
- Kellie Curry Raper & Maria Namakhoye Wanzala & Rodolfo Nayga, 2002. "Food expenditures and household demographic composition in the US: a demand systems approach," Applied Economics, Taylor & Francis Journals, vol. 34(8), pages 981-992.
- John L. Park & Rodney B. Holcomb & Kellie Curry Raper & Oral Capps, 1996. "A Demand Systems Analysis of Food Commodities by U.S. Households Segmented by Income," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(2), pages 290-300.
- Heien, Dale & Wessells, Cathy Roheim, 1990. "Demand Systems Estimation with Microdata: A Censored Regression Approach," Journal of Business & Economic Statistics, American Statistical Association, vol. 8(3), pages 365-71, July.
When requesting a correction, please mention this item's handle: RePEc:taf:apeclt:v:11:y:2004:i:8:p:523-527. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.