Tricks with Hicks: The EASI Demand System
نویسندگان
چکیده
منابع مشابه
Tricks with Hicks: The EASI Demand System
We invent Implicit Marshallian Demands, a new type of demand function that combines desirable features of Hicksian and Marshallian demand functions. We propose and estimate the Exact Af ne Stone Index (EASI) Implicit Marshallian Demand system. Like the Almost Ideal Demand (AID) system, EASI budget shares are linear in parameters given real expenditures. However, unlike the AID, EASI demands can...
متن کاملWeb Appendix for “Tricks for Hicks: The EASI Demand System”* I. General Cost Functions for Implicit Marshallian Demands
Theorem 5 provides a very weak sufficient condition for existence of implicit Marshallian demands w = ω[ p, z, x − G (w, p, z)] for some function G. for example, this condition is satisfied if any good or combination of goods has a budget share that is strictly increasing or strictly decreasing in total expenditures (and hence in utility). Moreover, this condition is sufficient but not necessar...
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In recent centuries, many natural disasters such as floods and droughts have appeared and have had many adverse effects on many countries. Natural disaster is one of the major environmental challenges in the world and has serious socioeconomic consequences in countries. Evidence points to the fact that these natural disasters have a significant negative impact on crop yield, food security, ther...
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Lewbel and Pendakur (2008) develop the idea of implicit Marshallian demands. Implicit Marshallian demand systems allow the incorporation of both unobserved preference heterogeneity and complex Engel curves into consumer demand analysis, circumventing the standard problems associated with combining rationality with either (or both) unobserved heterogeneity and high rank in demand. They also deve...
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The optimal management of distributed generation (DG) enhances the efficiency of the distribution system; On the other hand, increasing the interest of customers in optimizing their consumption improves the performance of DG. This act is called demand side management. In this study, a new method based on the intelligent algorithm is proposed to optimal operate the demand side management in the ...
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ژورنال
عنوان ژورنال: American Economic Review
سال: 2009
ISSN: 0002-8282
DOI: 10.1257/aer.99.3.827