Identification of Consumer Demand and Production Systems with Limited Dependent Variables
1984-11
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Identification of Consumer Demand and Production Systems with Limited Dependent Variables
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1984-11
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Center for Economic Research, Department of Economics, University of Minnesota
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Working Paper
Abstract
Some similarities between the simultaneous equation Tobit model and the
consumer demand and production systems with limited dependent variables are
addressed. Such systems have their distinctive features for parameter
identification. We consider the identification of some consumer demand and
production structures without price variations across samples. The linear
expenditure system and translog indirect utility function for consumers demand
and the translog profit function for production economics with binding nonnegative
constraints are analyzed. The presence of binding nonnegative constraints
has effects on the identification of all the parameters in the nonhomothetic
translog indirect utility function and the translog profit function
but not the linear expenditure system.
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Discussion Paper
207
207
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Lee, L., (1984), "Identification of Consumer Demand and Production Systems with Limited Dependent Variables", Discussion Paper No. 207, Center for Economic Research, Department of Economics, University of Minnesota.
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Lee, Lung-Fei. (1984). Identification of Consumer Demand and Production Systems with Limited Dependent Variables. Retrieved from the University Digital Conservancy, https://hdl.handle.net/11299/55389.
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