A Virtually Ideal Production System: Specifying and Estimating the VIPS Model
定义了一类称为VIPS(虚拟理想生产系统)的利润函数,其派生需求是产出价格数值函数的线性形式。作者设定了一个灵活而简约的VIPS利润函数版本,并使用美国农业总量数据估计了隐含的供给反应系统。
Abstract We characterize the class of profit functions termed VIPS for “virtually ideal production system.” VIPS is consistent with all derived demands being linear in numeric functions of output prices. A flexible but parsimonious version of the VIPS profit function is specified and the implied supply‐response system is estimated using aggregate U.S. agricultural data.