THE RANK OF DEMAND SYSTEMS - THEORY AND NONPARAMETRIC-ESTIMATION
THE RANK OF DEMAND SYSTEMS - THEORY AND NONPARAMETRIC-ESTIMATION
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DOI:
10.2307/2938225
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发表时间:
1991-05-01
期刊:
影响因子:
6.1
通讯作者:
LEWBEL, A
中科院分区:
文献类型:
--
作者:
LEWBEL, A
Gorman's (1981) concept of Engel curve "rank" is extended to apply to any demand system. Rank is shown to have implications for specification, separability, and aggregation of demands. A simple nonparametric test of rank using Engel curve data is described and applied to U.S. and U.K. consumer survey data. The test employs a new general method for testing the rank of estimated matrices. The results are used to assess theoretical and empirical aggregation error in representative consumer models, and to explain a representative consumer paradox.