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A Quadratic Inverse Demand System

  • Moro, Daniele
  • Sckokai, Paolo

We derive a (quadratic) inverse demand system (IQUAIDS), that generalizes the (almost ideal) inverse demand system. We discuss how the assumptions of separability and concavity can be simultaneously accommodated within the model, thus giving a (locally) separable and concave quadratic demand system. An empirical application is provided for illustrative purposes.

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File URL: http://purl.umn.edu/21560
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 1999 Annual meeting, August 8-11, Nashville, TN with number 21560.

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Date of creation: 1999
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Handle: RePEc:ags:aaea99:21560
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  1. Moschini, GianCarlo & Vissa, Anuradha, 1992. "A Linear Inverse Demand System," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 17(02), December.
  2. H. Youn Kim, 1997. "Functional Separability and Elasticities of Complementarity," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1177-1181.
  3. Eales, James S. & Unnevehr, Laurian J., 1994. "The inverse almost ideal demand system," European Economic Review, Elsevier, vol. 38(1), pages 101-115, January.
  4. Ryan, David L & Wales, Terence J, 1998. "A Simple Method for Imposing Local Curvature in Some Flexible Consumer-Demand Systems," Journal of Business & Economic Statistics, American Statistical Association, vol. 16(3), pages 331-38, July.
  5. Moschini, GianCarlo & Moro, D. & Green, Richard D., 1994. "Maintaining and Testing Separability in Demand Systems," Staff General Research Papers 11247, Iowa State University, Department of Economics.
  6. W. Erwin Diewert & T.J. Wales, 1989. "Flexible Functional Forms and Global Curvature Conditions," NBER Technical Working Papers 0040, National Bureau of Economic Research, Inc.
  7. Barnett, William A & Lee, Yul W, 1985. "The Global Properties of the Miniflex Laurent, Generalized Leontief, and Translog Flexible Functional Forms," Econometrica, Econometric Society, vol. 53(6), pages 1421-37, November.
  8. Blackorby, Charles & Davidson, Russell & Schworm, William, 1991. "Implicit separability: Characterisation and implications for consumer demands," Journal of Economic Theory, Elsevier, vol. 55(2), pages 364-399, December.
  9. James Banks & Richard Blundell & Arthur Lewbel, 1997. "Quadratic Engel Curves And Consumer Demand," The Review of Economics and Statistics, MIT Press, vol. 79(4), pages 527-539, November.
  10. Hicks, J. R., 1986. "A Revision of Demand Theory," OUP Catalogue, Oxford University Press, number 9780198285502, March.
  11. Moschini, Giancarlo, 1998. "The semiflexible almost ideal demand system," European Economic Review, Elsevier, vol. 42(2), pages 349-364, February.
  12. Diewert, W. E. & Wales, T. J., 1988. "A normalized quadratic semiflexible functional form," Journal of Econometrics, Elsevier, vol. 37(3), pages 327-342, March.
  13. Moschini, GianCarlo & Vissa, A., 1992. "Linear Inverse Demand System, A," Staff General Research Papers 11250, Iowa State University, Department of Economics.
  14. Moschini, GianCarlo, 1998. "Semiflexible Almost Ideal Demand System, The," Staff General Research Papers 1193, Iowa State University, Department of Economics.
  15. Christensen, Laurits R & Jorgenson, Dale W & Lau, Lawrence J, 1975. "Transcendental Logarithmic Utility Functions," American Economic Review, American Economic Association, vol. 65(3), pages 367-83, June.
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