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Demand elasticities derived from consistent estimation of Heckman-type models

  • Panagiotis Lazaridis

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 As a consequence the derived demand elasticities are no longer valid.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.

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Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 11 (2004)
Issue (Month): 8 ()
Pages: 523-527

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Handle: RePEc:taf:apeclt:v:11:y:2004:i:8:p:523-527
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  1. Manrique, J. & Jensen, Helen H., 1999. "Spanish Household Demand for Seafood Products," Staff General Research Papers 10527, Iowa State University, Department of Economics.
  2. 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.
  3. 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.
  4. 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.
  5. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
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