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Estimating a Demand System with Nonnegativity Constraints: Mexican Meat Demand
Amos Golan, Jeffrey M. Perloff and Edward Z. Shen
The Review of Economics and Statistics
Vol. 83, No. 3 (Aug., 2001), pp. 541-550
Published by: The MIT Press
Stable URL: http://www.jstor.org/stable/3211554
Page Count: 10
You can always find the topics here!Topics: Meats, Statistical estimation, Estimators, Demand, Beef, Entropy, Pork, Estimation methods, Prices, Consistent estimators
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A new information-based approach for estimating system of many equations with nonnegativity constraints is presented. This approach, called generalized maximum entropy (GME), is more practical and effecient than traditional maximum-likelihood methods. The GME method is used to estimate an almost ideal demand system for five types of meat using cross-sectional data from Mexico, where most households did not buy at least one type of meat during the survey week. The system of demands is shown to vary across demographic groups.
The Review of Economics and Statistics © 2001 The MIT Press