USING THE BOX-COX FORM FOR ESTIMATING DEMAND: A COMMENT.
In a recent article in "Review of Economics and Statistics," economist, Hui-Shyong Chang used the form of function suggested by economists George E.P. Box and David R. Cox to estimate the demand for meat in the United States. This article indicates the constraints which this function places upon pri...
| Publicado en: | Review of Economics & Statistics Vol. 62; no. 1; pp. 147 - 149 |
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| Formato: | Artículo |
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MIT Press
Feb80
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4652901&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4652901 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00346535 RMS jtl: Review of Economics & Statistics issn: 00346535 maglogo: N pubinfo: dt: Feb80 vid: 62 iid: 1 pid: 776 pub: MIT Press artinfo: ui: 4652901 10.2307/1924286 ppf: 147 ppct: 2 formats: tig: atl: USING THE BOX-COX FORM FOR ESTIMATING DEMAND: A COMMENT. aug: au: Gemmill, Gordon affil: City University Business School, London. su: Demand function Economic demand Meat industry Box, George E. P., 1919-2013 Elasticity (Economics) Cox, David R. Empirical research Economic forecasting Economics United States sug: subj: United States Demand function Economic demand Meat industry Box, George E. P., 1919-2013 Elasticity (Economics) Cox, David R. Empirical research Economic forecasting Economics ab: In a recent article in "Review of Economics and Statistics," economist, Hui-Shyong Chang used the form of function suggested by economists George E.P. Box and David R. Cox to estimate the demand for meat in the United States. This article indicates the constraints which this function places upon price and income elasticities, but which may, however, be removed by a slight generalization of the form. According to the author, the simple Box-Cox form imposes unreasonable constraints on the behavior of price and income elasticities. The generalization, in which price and income are raised to individual powers, is not so constrained. Moreover, it is interesting to note that of the four simple functions, introduced earlier as special cases of the generalized Box-Cox function, only the semi-logarithmic fulfills all of these elasticity conditions. This may account for its popularity in empirical work on the demand for food. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1980 holdings: @attributes: islocal: N |
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