Data/hora: 01/06/2024 18:17:34

Provedor de dados: | Research in Agricultural & Applied Economics (AgEcon Searh)
País: | United States
Título: | ALTERNATIVE ESTIMATION METHODS OF NONLINEAR DEMAND SYSTEMS
Autores: | Capps,   Oral, Jr.
Data: | 2003-12-30
Ano: | 1983
Palavras-chave: | Demand and Price Analysis.
Resumo: | Several contemporary models of consumer demand comprise complete sets on nonlinear demand functions.  Estimation methods should take into account parameter nonlinearity, cross-equation correlation, variance-covariance singularity of the disturbance terms, and various parameter restrictions.  This paper presents a theoretical discussion and some empirical results using the maximum likelihood (ML) method and the iterative version of Zellner's seemingly unrelated regression (IZEF) method in the estimation of a nonlinear system of demand equations (the linear expenditure system) when the disturbance terms are both contemporaneously and serially correlated.  On the basis of the evaluation of parameter estimates and their asymptotic standard errors as well as the cost of computation effort, the IZEF technique is preferred over the ML technique in this empirical problem.
Tipo: | Journal Article
Idioma: | Inglês

Identificador:

12042

http://purl.umn.edu/32484

Editor: | AgEcon Search
Relação: | Western Journal of Agricultural Economics&gt;Volume 08, Number 01, July 1983

Formato:

14

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