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Aggregation Theory for Incomplete Systems

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  • LaFrance, Jeffrey T.
  • Beatty, Timothy K.M.
  • Pope, Rulon D.

Abstract

Gorman’s theory of demand is extended comprehensively to incomplete systems. The incomplete systems approach dramatically increases this class of models. The separate roles of symmetry and adding up are identified in the rank and the functional form of this class of models. We show that symmetry determines rank and the maximum rank is three. We show that adding up and 0º homogeneity determines the functional form and there is no functional form restriction for an incomplete system. We prove that every full rank system and reduced rank systems with a minimal level of degeneracy can be written as a polynomial in a single function of income. A complete set of closed form solutions for the indirect objective functions of this class of models is derived. A simple method to nest rank and functional form for incomplete systems is presented.

Suggested Citation

  • LaFrance, Jeffrey T. & Beatty, Timothy K.M. & Pope, Rulon D., 2005. "Aggregation Theory for Incomplete Systems," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt0z13s7js, Department of Agricultural & Resource Economics, UC Berkeley.
    • Handle: RePEc:cdl:agrebk:qt0z13s7js
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    Cited by:

    1. LaFrance, Jeffrey T., 2005. "Energy efficiency and appliance replacement," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt49m6d4s4, Department of Agricultural & Resource Economics, UC Berkeley.
    2. LaFrance, Jeffrey T., 2005. "Energy efficiency and appliance replacement," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt49m6d4s4, Department of Agricultural & Resource Economics, UC Berkeley.

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