UM
Specification and estimation of regular inverse demand systems: A distance function approach
Gary Wong K.K.; Mclaren K.R.
2005
Source PublicationAmerican Journal of Agricultural Economics
ABS Journal Level3
ISSN29092
Volume87Issue:4Pages:823
AbstractTo allow realistic policy simulations in a changing environment, inverse demand systems must remain regular over substantial variations in quantities. The distance function is a convenient vehicle for generating such systems. While its use directly yields Hicksian inverse demand functions, those functions will not usually have an explicit representation in terms of the observable variables. However, this problem need not hinder estimation and can be solved by using a numerical inversion estimation approach. This article develops the formal theory for using distance functions in this context and demonstrates the operational feasibility of the method. Copyright 2005 American Agricultural Economics Association.
KeywordDistance functions Inverse demands Numerical inversion estimation Separability
DOI10.1111/j.1467-8276.2005.00772.x
URLView the original
Language英语
The Source to ArticleScopus
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Cited Times [WOS]:13   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionUniversity of Macau
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GB/T 7714
Gary Wong K.K.,Mclaren K.R.. Specification and estimation of regular inverse demand systems: A distance function approach[J]. American Journal of Agricultural Economics,2005,87(4):823.
APA Gary Wong K.K.,&Mclaren K.R..(2005).Specification and estimation of regular inverse demand systems: A distance function approach.American Journal of Agricultural Economics,87(4),823.
MLA Gary Wong K.K.,et al."Specification and estimation of regular inverse demand systems: A distance function approach".American Journal of Agricultural Economics 87.4(2005):823.
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