Demand System Specification and Estimation

Paperback | October 1, 1994

byRobert A. Pollak, Terence J. Wales

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This book explores the principal issues involved in bridging the gap between the pure theory of consumer behavior and its empirical implementation. The theoretical starting point is the familiar static, one-period, utility maximizing model in which the consumer allocates a fixed budget amongcompeting categories of goods. The authors focus upon four issues of primary importance in empirical demand analysis: the structure of preferences, the treatment of demographic variables, treatment of dynamics, and the specification of the stochastic structure of the demand system.

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This book explores the principal issues involved in bridging the gap between the pure theory of consumer behavior and its empirical implementation. The theoretical starting point is the familiar static, one-period, utility maximizing model in which the consumer allocates a fixed budget amongcompeting categories of goods. The authors fo...

Robert A. Pollak is at University of Pennsylvania. Terence J. Wales is at University of British Columbia.

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Format:PaperbackDimensions:232 pages, 9.25 × 6.06 × 0.71 inPublished:October 1, 1994Publisher:Oxford University Press

The following ISBNs are associated with this title:

ISBN - 10:0195101219

ISBN - 13:9780195101218

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"Those who are or aspire to be demand analysts whill want to buy this book, read it through, refer to it often, and thank Pollak and Wales for their efforts."--The Journal of Consumer Affairs