Demand System Specification and Estimation

ISBN-13: 9780195101218 / Angielski / Miękka / 1995 / 232 str.

Terence J. Wales; Robert A. Pollak; Terence J. Wales

Opis

This book explores the principal issues involved in bridging the gap between the pure theory of consumer behavior and its empirical implementation. The theoretical starting point is the familiar static, one-period, utility maximizing model in which the consumer allocates a fixed budget among competing categories of goods. The authors focus upon four issues of primary importance in empirical demand analysis: the structure of preferences, the treatment of demographic variables, treatment of dynamics, and the specification of the stochastic structure of the demand system.

Recenzje

Those who are or aspire to be demand analysts will want to buy this book, read it through, refer to it often, and thank Pollak and Wales for their efforts.