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| Author: | McLaren, K. |
| Title: | Using the cost function to generate Marshallian demand systems |
| Journal: | Empirical Economics
2000 : VOL. 25:2, p. 209-228 |
| Index terms: | DEMAND COSTS NUMERICAL ANALYSIS |
| Language: | eng |
| Abstract: | Limited data means that prior structure is needed when working with large demand systems. The cost function is a convenient vehicle for generating demand systems incorporating such structure. While the cost function directly yields Hicksian demand functions they will not usually have an explicit representation as Marshallian demand equations, i.e. in terms of the observable vairables. |
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