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Estimation Of A Demand System With Limited Dependent Variables

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  • Huang, Chung L.
  • Yen, Steven T.

Abstract

The study employs the full-information maximum-likelihood method to estimate a censored translog demand system. U.S. household consumption of steak, roast, and ground beef are used to demonstrate the application of the estimation procedure. The proposed methodology produces more efficient estimates than the popular two-step procedures found in demand literature.

Suggested Citation

  • Huang, Chung L. & Yen, Steven T., 2002. "Estimation Of A Demand System With Limited Dependent Variables," 2002 Annual meeting, July 28-31, Long Beach, CA 19592, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea02:19592
    DOI: 10.22004/ag.econ.19592
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    References listed on IDEAS

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    1. X. M. Gao & Thomas Spreen, 1994. "A Microeconometric Analysis of the U.S. Meat Demand," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 42(3), pages 397-412, November.
    2. J. Scott Shonkwiler & Steven T. Yen, 1999. "Two-Step Estimation of a Censored System of Equations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(4), pages 972-982.
    3. Heien, Dale & Wessells, Cathy Roheim, 1990. "Demand Systems Estimation with Microdata: A Censored Regression Approach," Journal of Business & Economic Statistics, American Statistical Association, vol. 8(3), pages 365-371, July.
    4. Eric J. Wailes & Gail L. Cramer, 1997. "A Microeconometric Analysis of Consumer Taste Determination and Taste Change for Beef," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(2), pages 573-582.
    5. Moschini, GianCarlo & Meilke, Karl D., 1984. "Parameter Stability And The U.S. Demand For Beef," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 9(2), pages 1-12, December.
    6. Christensen, Laurits R & Jorgenson, Dale W & Lau, Lawrence J, 1975. "Transcendental Logarithmic Utility Functions," American Economic Review, American Economic Association, vol. 65(3), pages 367-383, June.
    7. Federico Perali & Jean-Paul Chavas, 2000. "Estimation of Censored Demand Equations from Large Cross-Section Data," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(4), pages 1022-1037.
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    9. Heien, Dale & Pompelli, Greg, 1988. "The Demand For Beef Products: Cross-Section Estimation Of Demographic And Economic Effects," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 13(1), pages 1-8, July.
    10. Oral Capps Jr. & Joseph Havlicek Jr., 1984. "National and Regional Household Demand for Meat, Poultry and Seafood: A Complete Systems Approach," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 32(1), pages 93-108, March.
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    Demand and Price Analysis;

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