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The use of conditional cost functions to generate estimable mixed demand systems
Wong,K. K.Gary1; Park,Hoanjae2
2019-06-19
Source PublicationAmerican Journal of Agricultural Economics
ISSN14678276 00029092
Volume89Issue:2Pages:273-286
AbstractMixed demand systems have been virtually ignored in empirical work solely because derivation of these systems requires closed forms for both direct and indirect utility functions. This article proposes the alternative of using a conditional cost function to generate empirical mixed demand models. This approach allows the estimation of mixed demand systems, which are explicit in an unobservable variable (utility), but may lack a closed form representation in terms of observable variables such as prices, quantities and expenditure. Results indicate that this approach is operationally feasible, which opens up a wider range of mixed demand specifications in static analyses. © 2007 American Agricultural Economics Association.
KeywordConditional cost functions Mixed demands Numerical inversion estimation method
DOI10.1111/j.1467-8276.2007.00976.x
URLView the original
Language英语
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Document TypeJournal article
CollectionUniversity of Macau
Affiliation1.Department of EconomicsThe University of Macau,Macao
2.Department of EconomicsCatholic University of Daegu,South Korea
First Author AffilicationUniversity of Macau
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GB/T 7714
Wong,K. K.Gary,Park,Hoanjae. The use of conditional cost functions to generate estimable mixed demand systems[J]. American Journal of Agricultural Economics,2019,89(2):273-286.
APA Wong,K. K.Gary,&Park,Hoanjae.(2019).The use of conditional cost functions to generate estimable mixed demand systems.American Journal of Agricultural Economics,89(2),273-286.
MLA Wong,K. K.Gary,et al."The use of conditional cost functions to generate estimable mixed demand systems".American Journal of Agricultural Economics 89.2(2019):273-286.
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