Units of Measurement and the Stone Index in Demand System Estimation

1995 ◽  
Vol 77 (1) ◽  
pp. 63-68 ◽  
Author(s):  
Giancarlo Moschini
Keyword(s):  
Demand System ◽  
Units Of Measurement ◽  
Demand System Estimation

scholarly journals U.S. Consumer Demand for Plant-Based Milk Alternative Beverages: Hedonic Metric Augmented Barten’s Synthetic Model

Foods ◽  
2021 ◽  
Vol 10 (2) ◽  
pp. 265
Author(s):  
Tingyi Yang ◽  
Senarath Dharmasena
Keyword(s):  
Hedonic Pricing ◽  
Demand System ◽  
Soy Milk ◽  
Purchasing Behavior ◽  
New Approach ◽  
Hedonic Pricing Model ◽  
Inelastic Demand ◽  
Demand System Estimation ◽  
Nutritional Data ◽  
Conventional Milk

Consumers in the U.S. increasingly prefer plant-based milk alternative beverages (abbreviated “plant milk”) to conventional milk. This study is motivated by the need to take into consideration varied nutritional and qualitative attributes in plant milk to examine consumers’ purchasing behavior and estimate demand elasticities which are achieved by a new approach combing hedonic pricing model with Barten’s synthetic demand system. The method of estimation is enlightened from the common practice of companies differentiating their products in multidimensions in terms of attributes. A research dataset was uniquely created by associating the products’ purchase data from Nielsen Homescan dataset with exclusive first-hand nutritional data. Estimations began with creating a multidimensional hedonic attribute space based on the qualitative information of different types of plant milk and conventional milk available to consumers and then calculating the hedonic distances by Euclidean distance measurement to reparametrize Barten’s synthetic demand system. Estimation results showed that the highest own-price elasticity pertained to soy milk which was −0.25. Three plant milk types had inelastic demand. Soy milk exerted substituting effects on all types of conventional milk products and vice versa. Soy milk, rice milk and almond milk entertained complementary relationships between each other and four types of conventional milk were strong substitutes within the group.

Tax Reform and Welfare Measurement: Do We Need Demand System Estimation?

1996 ◽  
Vol 106 (438) ◽  
pp. 1227 ◽  
Author(s):  
James Banks ◽  
Richard Blundell ◽  
Arthur Lewbel
Keyword(s):  
Tax Reform ◽  
Demand System ◽  
Welfare Measurement ◽  
Demand System Estimation

Constrained Utility Maximization and Demand System Estimation

2011 ◽  
pp. 6-34 ◽  
Author(s):  
Nicholas E. Piggott ◽  
Thomas L. Marsh
Keyword(s):  
Utility Maximization ◽  
System Analysis ◽  
Model Performance ◽  
Demand System ◽  
Additional Hypothesis ◽  
Inverse Systems ◽  
Functional Forms ◽  
Demand System Estimation ◽  
System Analyst ◽  
General Demand

This article provides an overview of the literature on consumer and demand system analysis with emphasis on complete food demand systems. It presents theoretical foundations, constrained utility maximization, properties, and general demand restrictions. It discusses dual functions, including the expenditure function, the indirect utility function, and the distance function. The first three dual approaches are standard tools of the applied demand system analyst. Then it introduces the issue of welfare effects and integrability along with separability and aggregation. The article also provides a review of functional forms and covers econometric issues that include estimation, inference and hypothesis testing, specification tests, and other empirical issues. Models of the almost ideal demand and inverse systems as well as some additional hypothesis tests and inferences regarding model performance are estimated and reported.

Cross-sectional aggregation and demand system estimation

1988 ◽  
Vol 16 (2) ◽  
pp. 82-82
Author(s):  
Frederick W. Derrick ◽  
John D. Wolken
Keyword(s):  
Demand System ◽  
Cross Sectional ◽  
Demand System Estimation

scholarly journals Demand system estimation in the absence of price data: an application of Stone-Lewbel price indices

2014 ◽  
Vol 47 (6) ◽  
pp. 553-568 ◽  
Author(s):  
César E. Castellón ◽  
Tullaya Boonsaeng ◽  
Carlos E. Carpio
Keyword(s):  
Demand System ◽  
Price Indices ◽  
Price Data ◽  
Demand System Estimation
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