Advances in econometrics /
Advances in econometrics /
- Greenwich, Conn. : JAI Press, ©1982-
- v ;
Almost half of this book is devoted to the essay by Dale Jorgenson, Lawrence Lau, and Thomas Stoker, "The Transcendental Logarithmic Model of' Aggregate Consumer Behavior." A general approach to the exact aggregation
of demand functions over households is taken: household demand functions may be nonlinear in income, and correspondingly the aggregate demand function may contain indexes (i.e., symmetric functions, not merely the mean) of household incomes. Attributes such as demographic characteristics may also enter the household functions and then reappear as indexes in the aggregate function. All this serves to increase the generality of consumer demand systems while preserving the utility-maximizing underpinnings. For
a more concise development, see Lau (1982).
0892321385
Econometrics
Consumer behavior--Econometric models
Labor supply--Econometric models
HB139 / .A33
330.01'5195 / ADV
Almost half of this book is devoted to the essay by Dale Jorgenson, Lawrence Lau, and Thomas Stoker, "The Transcendental Logarithmic Model of' Aggregate Consumer Behavior." A general approach to the exact aggregation
of demand functions over households is taken: household demand functions may be nonlinear in income, and correspondingly the aggregate demand function may contain indexes (i.e., symmetric functions, not merely the mean) of household incomes. Attributes such as demographic characteristics may also enter the household functions and then reappear as indexes in the aggregate function. All this serves to increase the generality of consumer demand systems while preserving the utility-maximizing underpinnings. For
a more concise development, see Lau (1982).
0892321385
Econometrics
Consumer behavior--Econometric models
Labor supply--Econometric models
HB139 / .A33
330.01'5195 / ADV