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Quantity Aggregation in Consumer Demand Analysis When Physical Quantities Are Observed

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  • Nelson, Julie A

Abstract

A method for estimating price and income elasticities from cross section data devised by Deaton (1986, 1987, 1988) makes implicit use of the Hicks' composite commodity theorem. Recognition of this fact allows theoretically rigorous definition of aggregate composite quantities. A comparison of elasticities of Hicks' composite with elasticities of simple physical quantity measures for the Ivory Coast and the United States demonstrates that use of physical quantity measures can be severely misleading when commodity heterogeneity is substantial. Copyright 1990 by MIT Press.

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  • Nelson, Julie A, 1990. "Quantity Aggregation in Consumer Demand Analysis When Physical Quantities Are Observed," The Review of Economics and Statistics, MIT Press, vol. 72(1), pages 153-156, February.
    • Handle: RePEc:tpr:restat:v:72:y:1990:i:1:p:153-56
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    Cited by:

    1. Ingvild Almas, 2012. "International Income Inequality: Measuring PPP Bias by Estimating Engel Curves for Food," American Economic Review, American Economic Association, vol. 102(2), pages 1093-1117, April.
    2. Xavier Irz, 2010. "Modeling physical quantities of food and nutrients consumed from aggregate data—with an application to Finland," Agricultural Economics, International Association of Agricultural Economists, vol. 41(3‐4), pages 293-304, May.
    3. Hayden Stewart & Noel Blisard, 2008. "Who Pays More for Food?," Journal of Agricultural Economics, Wiley Blackwell, vol. 59(1), pages 150-168, February.
    4. McKelvey, Christopher, 2011. "Price, unit value, and quality demanded," Journal of Development Economics, Elsevier, vol. 95(2), pages 157-169, July.
    5. Reed, Albert J. & Levedahl, J. William & Clark, J. Stephen, 2003. "Commercial Disappearance and Composite Demand for Food with an Application to U.S. Meats," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 28(1), pages 1-18, April.
    6. repec:pru:wpaper:30 is not listed on IDEAS

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