Flores, Gabriela; Krishnakumar, Jaya; Basu, Sudip Ranjan - Institut d'Economie et Econométrie, Université de Genève - 2004
In this study, we explore the relationship between the rank of a demand system and the estimation results both in terms of consumption behaviour and more importantly in terms of welfare analysis. Money-metric utility levels given by equivalent expenditures are taken as welfare indicators for...