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The Maximum Likelihood method estimates the parameter values of a statistical model that maximize the corresponding likelihood function, given the sample information. This is the primal approach that, in this paper, is presented as a mathematical programming specification whose solution requires...
Persistent link: https://www.econbiz.de/10010921485
Persistent link: https://www.econbiz.de/10010921486
With the advent of the almost ideal demand system (AIDS) of Deaton and Muellbauer, the estimation of consumer demand functions revolves around specifications that use flexible functional forms of the indirect utility function. This dual approach has put on the backburner the traditional primal...
Persistent link: https://www.econbiz.de/10008549123