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Full Rank Rational Demand Systems AgEcon
LaFrance, Jeffrey T.; Pope, Rulon D..
We extend the set of full rank nominal and deflated income demand systems to rational demand systems of any rank and present a unifying expression for the indirect preferences of all full rank demand models.
Tipo: Working or Discussion Paper Palavras-chave: Aggregation; Functional form; Integrability; Rank; Rational demand systems; Demand and Price Analysis; D12; E21.
Ano: 2006 URL: http://purl.umn.edu/7152
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On the Solutions to Full Rank Three Gorman Systems AgEcon
LaFrance, Jeffrey T..
This letter closes a gap in the set of solutions for the full rank three systems of Gorman Engel curves and presents a unified expression for the indirect preferences in this case.
Tipo: Working or Discussion Paper Palavras-chave: Aggregation; Rank; Functional form; Integrability; Research Methods/ Statistical Methods; D12; E21.
Ano: 2005 URL: http://purl.umn.edu/25048
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Aggregation Theory for Incomplete Systems AgEcon
LaFrance, Jeffrey T.; Beatty, Timothy K.M.; Pope, Rulon D..
Gorman's theory of demand is extended comprehensively to incomplete systems. The incomplete systems approach dramatically increases this class of models. The separate roles of symmetry and adding up are identified in the rank and the functional form of this class of models. We show that symmetry determines rank and the maximum rank is three. We show that adding up and 0o homogeneity determines the functional form and there is no functional form restriction for an incomplete system. We prove that every full rank system and reduced rank systems with a minimal level of degeneracy can be written as a polynomial in a single function of income. A complete set of closed form solutions for the indirect objective functions of this class of models is derived. A...
Tipo: Working or Discussion Paper Palavras-chave: Aggregation; Rank; Functional form; Integrability; Incomplete systems; Weak integrability; Demand and Price Analysis; D12; E21.
Ano: 2005 URL: http://purl.umn.edu/25033
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