The Benefit Function Approach to Modeling Price‐Dependent Demand Systems: An Application of Duality Theory
提倡在价格依赖或逆需求模型中更广泛使用效益函数，展示如何利用对偶理论建立逆需求与调整价格函数的关系，并以日本鱼类消费数据估计两个逆需求系统，证明该方法在数量和福利分析中的潜力。
Abstract In this article, we advocate more extensive use of the benefit function in specifying price‐dependent or inverse demand models. We demonstrate how duality theory may be used to establish the interrelationships between the Marshallian (or Hicksian) inverse demands and Luenberger's adjusted price functions, allowing estimable inverse demands to be derived directly from a benefit function. We estimate two systems of inverse demands for Japanese quarterly fish consumption. Results indicate that the procedures and methods employed here appear promising, and may prove beneficial for quantity and welfare analysis when modeling systems of inverse demand functions.