Cross Sectional Expenditure System Estimation Using a Varying Second Stage Utility Function (Classic Reprint) - Couverture souple

Arthur Lewbel

9781332256891: Cross Sectional Expenditure System Estimation Using a Varying Second Stage Utility Function (Classic Reprint)

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ISBN 10 : 1332256899 ISBN 13 : 9781332256891

Editeur : Forgotten Books, 2018

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�diteur: Forgotten Books
Date d'�dition: 2018
Langue: anglais
ISBN 10: 1332256899
ISBN 13: 9781332256891
Reliure: Broch�
Nombre de pages: 55
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Cross Sectional Expenditure System Estimation Using a Varying Second Stage

Arthur Lewbel

Edit� par Forgotten Books, 2020

ISBN 10 : 1332256899 ISBN 13 : 9781332256891

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Vendeur : Forgotten Books, London, Royaume-Uni

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Paperback. Etat : New. Print on Demand. This book presents an innovative methodology for estimating consumer demand systems using varying second-stage utility functions. The author demonstrates how a two-stage utility function can be specified whose parameters are the same in the first stage while varying from consumer to consumer in the second stage. This approach has the advantage of allowing price and income effects to be estimated from purely cross-sectional data, without requiring data to span multiple price regimes. The author also discusses the theoretical advantages of a specification that permits consumers to differ by more than a stochastic component, and provides empirical results based on data from a single U.S. Consumer Expenditure Survey. These results reveal demographic differences in estimated parameters and elasticities, highlighting the importance of considering household heterogeneity in demand analysis. The book's methodology and insights are significant for researchers in consumer demand modeling and welfare economics. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. N� de r�f. du vendeur 9781332256891_0

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