Residential College | false |
Status | 已發表Published |
The benefit function approach to modeling price-dependent demand systems: An application of duality theory | |
McLaren,Keith R.1; Wong,K. K.Gary2 | |
2019-06-19 | |
Source Publication | American Journal of Agricultural Economics |
ABS Journal Level | 3 |
ISSN | 14678276 00029092 |
Volume | 91Issue:4Pages:1110-1123 |
Abstract | In this article, we advocate more extensive use of the benefit function in specifying price-dependent or inverse demand models. We demonstrate how duality theory may be used to establish the interrelationships between the Marshallian (or Hicksian) inverse demands and Luenberger's adjusted price functions, allowing estimable inverse demands to be derived directly from a benefit function. We estimate two systems of inverse demands for Japanese quarterly fish consumption. Results indicate that the procedures and methods employed here appear promising, and may prove beneficial for quantity and welfare analysis when modeling systems of inverse demand functions. © 2009 Agricultural and Applied Economics Association. |
Keyword | Benefit Functions Duality Theory Inverse Demands Numerical Inversion Estimation Method |
DOI | 10.1111/j.1467-8276.2009.01318.x |
URL | View the original |
Indexed By | SSCI |
Language | 英語English |
WOS Research Area | Agriculture ; Business & Economics |
WOS Subject | Agricultural Economics & Policy ; Economics |
WOS ID | WOS:000269490000018 |
Scopus ID | 2-s2.0-70149088388 |
Fulltext Access | |
Citation statistics | |
Document Type | Journal article |
Collection | DEPARTMENT OF ECONOMICS |
Affiliation | 1.Department of econometricsDepartment of Econometrics and Business StatisticsMonash University,Australia 2.Department of EconomicsThe University of Macau,Macao |
Recommended Citation GB/T 7714 | McLaren,Keith R.,Wong,K. K.Gary. The benefit function approach to modeling price-dependent demand systems: An application of duality theory[J]. American Journal of Agricultural Economics, 2019, 91(4), 1110-1123. |
APA | McLaren,Keith R.., & Wong,K. K.Gary (2019). The benefit function approach to modeling price-dependent demand systems: An application of duality theory. American Journal of Agricultural Economics, 91(4), 1110-1123. |
MLA | McLaren,Keith R.,et al."The benefit function approach to modeling price-dependent demand systems: An application of duality theory".American Journal of Agricultural Economics 91.4(2019):1110-1123. |
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