The Use of Linear Logit Models for Dynamic Input Demand Systems
展示如何用带约束的线性Logit模型构建满足新古典条件的成本份额方程组，并发现静态模型会高估短期自身价格弹性、低估长期价格效应。
This paper demonstrates that a linear logit model, with appropriate constraints, can be used to specify a system of cost share equations that satisfy neoclassical economic conditions. Unlike many other flexible functional forms, the logistic function is particularly well suited for incorporating dynamic adjustment mechanisms. The empirical results suggest that the use of static models overstates short-run own-price elasticities and understates the corresponding long-run price effects.