On nesting nonhomothetic preferences
We consider nested utility function with nonhomothetic subutility functions. We express demand functions for aggregate goods in terms of marshalian and hicksian demands associated with the standard consumer problem of maximization of aggregate utility function. We also presents a simple method of calibrating such a demand system.
|Date of creation:||Nov 2006|
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- McDougall, Robert, 2000.
"A New Regional Household Demand System for GTAP,"
GTAP Working Papers
404, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
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