An Error Correction Inverse Almost Ideal Demand System: Wholesale Demand for Fish Grades in Greece
Inverse demand systems explain price variations as functions of quantity variations. This paper presents a dynamic inverse AIDS model based on recent developments on cointegration techniques and error correction model. The case of fish landed at Geek sea ports appears to suit this model well. The results indicate that the underlying distance function is homothetic while the own-quantity flexibilities suggest that the responses of price to own-quantity changes are inelastic. Finally, the results of cross-quantity uncompensated flexibilities suggest that the substitution possibilities among fish grades are rather limited. The Allais interaction intensities verified the substitutability among fish grades as well.
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.:
- Anderson, G J & Blundell, R W, 1982. "Estimation and Hypothesis Testing in Dynamic Singular Equation Systems," Econometrica, Econometric Society, vol. 50(6), pages 1559-1571, November.
When requesting a correction, please mention this item's handle: RePEc:aua:wpaper:2009-07. 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: (Kremmydas dimitrios)
If references are entirely missing, you can add them using this form.