消费者需求函数的归一化二次系统

Normalized Quadratic Systems of Consumer Demand Functions

Journal of Business & Economic Statistics · 1988
被引 104 · 同刊同年前 10%
人大 AABS 4

中文导读

提出并估计两种可全局施加理论曲率条件的消费者需求系统,分别基于归一化二次间接效用函数和支出函数,并分析其灵活性与曲率约束的关系。

Abstract

Empirically estimated demand systems frequently fail to satisfy the appropriate theoretical curvature conditions. We propose and estimate two demand systems for which these conditions can be imposed globally; the first is derived from a normalized quadratic reciprocal indirect utility function and the second is derived from a normalized quadratic expenditure function. The former is flexible if there are no restrictions on its free parameters, but loses flexibility if the curvature conditions need to be imposed. The latter is flexible, in the class of functions satisfying local money metric scaling, even if the curvature conditions need to be imposed.

需求系统曲率条件标准化二次函数灵活性