Imposing Local Curvature Conditions in Flexible Demand Systems
通过重新参数化基本超越对数和对数超越对数需求系统,利用Slutsky矩阵必须半负定但不能负定的性质,将一种近期提出的局部曲率保持方法应用于这些流行模型,也可推广到其他需求系统。
Abstract By reparameterizing the basic translog and the log translog demand systems and exploiting the fact that the Slutsky matrix must be negative semidefinite but cannot be negative definite, it is shown that a recently proposed simple procedure to maintain locally the curvature property of consumer theory can be applied to these popular translog models as well. The proposed procedure can also be applied to other demand-system specifications such as, for example, the nonseparable generalized linear expenditure system. KEY WORDS: Cholesky factorizationNegative semidefinitenessSlutsky matrix