INCOMPLETE DEMAND SYSTEMS AND SEMILOGARITHMIC DEMAND MODELS Report as inadecuate




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The methodology of LaFrance and Hanemann for analysing the structure of incomplete demand systems is applied to models that are linear or logarithmic in quantities, prices and/or income. The structure of each model is presented when the implications of consumer choice theory are satisfied. The usefulness of the approach is illustrated. It is shown that considerable prior information is obtained from the theory of consumer choice when it is applied to this set of functional forms for demand equations.

Subject(s): Demand and Price Analysis

Issue Date: 1990-08

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/22442 Published in: Australian Journal of Agricultural Economics, Volume 34, Number 2 Page range: 118-131

Total Pages: 14

Record appears in: Australian Agricultural and Resource Economics Society (AARES) > Australian Journal of Agricultural Economics





Author: LaFrance, Jeffrey T.

Source: http://ageconsearch.umn.edu/record/22442?ln=en



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