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The Use of Conditional Cost Function to Generate Estimable Mixed Demand Systems
Wong, K. K. Gary1; Park, Hoanjae2
2007-05
Source PublicationAMERICAN JOURNAL OF AGRICULTURAL ECONOMICS
ABS Journal Level3
ISSN0002-9092
Volume89Issue:2Pages:273-286
Abstract

Mixed 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.

KeywordConditional Cost Functions Mixed Demands Numerical Inversion Estimation Method
DOI10.1111/j.1467-8276.2007.00976.x
Indexed BySSCI
Language英语
WOS Research AreaAgriculture ; Business & Economics
WOS SubjectAgricultural Economics & Policy ; Economics
WOS IDWOS:000245853700005
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Citation statistics
Cited Times [WOS]:1   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionFaculty of Social Sciences
DEPARTMENT OF ECONOMICS
Affiliation1.Univ Macau, Dept Econ, Macao, Peoples R China
2.Catholic Univ Daegu, Dept Econ, Taegu, South Korea
First Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Wong, K. K. Gary,Park, Hoanjae. The Use of Conditional Cost Function to Generate Estimable Mixed Demand Systems[J]. AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS,2007,89(2):273-286.
APA Wong, K. K. Gary,&Park, Hoanjae.(2007).The Use of Conditional Cost Function 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 Function to Generate Estimable Mixed Demand Systems".AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS 89.2(2007):273-286.
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