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The Use of Conditional Cost Functions to Generate Estimable Mixed Demand Systems

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  • K. K. Gary Wong
  • Hoanjae Park

Abstract

Mixed demand systems have been virtually ignored in empirical work solely because derivation of these systems requires closed forms for both direct and indirect utility functions. This article proposes the alternative of using a conditional cost function to generate empirical mixed demand models. This approach allows the estimation of mixed demand systems, which are explicit in an unobservable variable (utility), but may lack a closed form representation in terms of observable variables such as prices, quantities and expenditure. Results indicate that this approach is operationally feasible, which opens up a wider range of mixed demand specifications in static analyses. Copyright 2007, Oxford University Press.

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  • K. K. Gary Wong & Hoanjae Park, 2007. "The Use of Conditional Cost Functions to Generate Estimable Mixed Demand Systems," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(2), pages 273-286.
    • Handle: RePEc:oup:ajagec:v:89:y:2007:i:2:p:273-286
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    File URL: http://hdl.handle.net/10.1111/j.1467-8276.2007.00976.x
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    Cited by:

    1. H. Youn Kim & Keith R. McLaren & K. K. Gary Wong, 2020. "Valuation of public goods: an intertemporal mixed demand approach," Empirical Economics, Springer, vol. 59(5), pages 2223-2253, November.
    2. Ka Kei Gary Wong & Min Qiang Zhao, 2023. "Induced innovation and its impact on productivity growth in China: a latent variable approach," Empirical Economics, Springer, vol. 65(1), pages 371-399, July.
    3. Hjertstrand, Per, 2022. "Nonparametric Analysis of the Mixed-Demand Model," Working Paper Series 1430, Research Institute of Industrial Economics.

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