Showing 1 - 5 of 5
Gorman Engel curves are extended to incomplete systems. The roles of Slutsky symmetry and homogeneity/adding up are isolated in the rank and functional form restrictions for Gorman systems. Symmetry determines the rank condition. The maximum rank is three for incomplete and complete systems....
Persistent link: https://www.econbiz.de/10010537354
A flexible, full rank two model of food consumption that is globally consistent with economic theory, aggregates across income, demographic variables, and variations in micro demand parameters, and accommodates tradeoffs between tastes and nutrition is derived. The econometric demand model is...
Persistent link: https://www.econbiz.de/10010537355
We extend the set of full rank nominal and deflated income demand systems to rational demand systems of any rank and present a unifying expression for the indirect preferences of all full rank demand models.
Persistent link: https://www.econbiz.de/10010537518
A great deal of research on farm and food policy and consumer choice focuses on the link between food consumption and nutrition. This paper presents and applies a new method to analyze the demand for food and nutrients, and consumer welfare. The foundation for this method is the recent extension...
Persistent link: https://www.econbiz.de/10011130822
Gorman’s theory of demand is extended comprehensively to incomplete systems. The incomplete systems approach dramatically increases this class of models. The separate roles of symmetry and adding up are identified in the rank and the functional form of this class of models. We show that...
Persistent link: https://www.econbiz.de/10011130828