ESTIMATION OF A DEMAND SYSTEM WITH LIMITED DEPENDENT VARIABLES

The study employs the full-information maximum-likelihood method to estimate a censored translog demand system. U.S. household consumption of steak, roast, and ground beef are used to demonstrate the application of the estimation procedure. The proposed methodology produces more efficient estimates than the popular two-step procedures found in demand literature.


Issue Date:
2002
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/19592
Total Pages:
23
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-04-26

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