FUNCTIONAL FORMS AND THE DEMAND FOR MEAT IN THE UNITED STATES: A COMMENT.

The article presents information about an article that explores the functional forms and the demand for meat in the United States. The general form for estimating the demand function for meat in the United States is based on the power transformation given by economists George E.P. Box and David R. C...

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Detalles Bibliográficos
Publicado en:Review of Economics & Statistics Vol. 62; no. 1; pp. 144 - 147
Autores principales: Huang, Cliff J., Grawe, Oliver R.
Formato: Artículo
Publicado: MIT Press Feb80
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Acceso en línea:Ver este registro en EBSCOhost
Descripción
Sumario:The article presents information about an article that explores the functional forms and the demand for meat in the United States. The general form for estimating the demand function for meat in the United States is based on the power transformation given by economists George E.P. Box and David R. Cox. The use of power transformation in regression analysis requires a certain amount of caution in interpreting the empirical results. The elasticity of the conditional mean function differs from that given by the deterministic part alone. Depending upon viewpoint, this difference represents a bias distorting the elasticity, given by the conditional mean function, away from the elasticity that would be given by the deterministic portion of the deterministic demand function.