Advances in econometrics /

Material type: Series

0892321385

Subject(s):

DDC classification:

330.01'5195 ADV

LOC classification:

HB139 .A33

Summary: 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).

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Holdings
Item type	Current library	Collection	Call number	Copy number	Status	Date due	Barcode
Monograph & others	CBN HQ Library General Stacks	Non-fiction	330.01'5195 ADV (Browse shelf(Opens below))	c.1	Available		31008100138003

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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).

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