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A comment on consumer demand systems with binding non-negativity constraints

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  • Ransom, Michael R.

Abstract

Wales and Woodland (1983) have proposed an econometric model to deal with non-negativity constraints in systems of demand equations. This paper points out the relationship between the Wales-Woodland model and the "simultaneous Tobit" model of Amemiya (1974). This relationship is important because Amemiya has proposed a simple estimation procedure that can be utilized for some cases of the Wales-Woodland model. The issue of internal consistency for models of this type is discussed. I point out that internal consistency for the Wales-Woodland model is equivalent to the second order condition for systems without quantity constraints.
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Suggested Citation

  • Ransom, Michael R., 1987. "A comment on consumer demand systems with binding non-negativity constraints," Journal of Econometrics, Elsevier, vol. 34(3), pages 355-359, March.
    • Handle: RePEc:eee:econom:v:34:y:1987:i:3:p:355-359
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