LIMITING FORMS FOR DEMAND FUNCTIONS: TESTS OF SOME SPECIFIC HYPOTHESES.
In the article "Small Sample Properties of Tests for Specification Error," published in the "Journal of the American Statistical Association," by J.B. Ramsey, the conditions under which limiting approximations to own price demand curves can be obtained are discussed. The objective is to test with bu...
| Publicado en: | Review of Economics & Statistics Vol. 56; no. 4; pp. 468 - 478 |
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| Autor principal: | |
| Formato: | Artículo |
| Publicado: |
MIT Press
Nov74
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| Acceso en línea: | Ver este registro en EBSCOhost |
| Sumario: | In the article "Small Sample Properties of Tests for Specification Error," published in the "Journal of the American Statistical Association," by J.B. Ramsey, the conditions under which limiting approximations to own price demand curves can be obtained are discussed. The objective is to test with budget data of some of the specific hypotheses generated in the previous paper. The results presented are regarded only as initial efforts. Their main function is to indicate whether the hypothesized models can meet some fairly weak tests and to indicate the nature of some of the practical problems to be faced in testing such hypotheses. Altogether 28 commodities were examined. The selection of commodities was determined quite simply by the availability of price/quantity data. Within that category a subset of seven commodities was chosen for initial examination. The commodities were chosen on the basis of being well defined homogeneous goods which are nonstorable and are purchased on a regular basis. |
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