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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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    2. 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.
    3. 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.
    4. Jean-Paul Chavas, 1983. "Structural Change in the Demand for Meat," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(1), pages 148-153.
    5. 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.
    6. Alden C. Manchester, 1977. "Household Consumption Behavior: Understanding, Measurement, and Applications in Policy-Oriented Research," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(1), pages 149-154.
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    Demand and Price Analysis;

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