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| Author: | Thore, S. |
| Title: | A constrained least squares method for estimating the effects of an unknown monotonically intervening factor. |
| Journal: | Journal of Forecasting
1989 : OCT-DEC, VOL. 8:4, p. 369-379 |
| Index terms: | REGRESSION ANALYSIS FACTOR ANALYSIS CONSUMER DEMAND CIGARETTE INDUSTRY |
| Language: | eng |
| Abstract: | A constrained least squares method is developed for the estimation of the effects of an unknown intervening casual factor in regression analysis, when the unknown factor shifts the regression hyperplane monotonically upwards (downwards) over time. As an illustration, the price elasticity of cigarettes in the USA is estimated. An estimation is also provided regarding the shifts of the demand curve for cigarettes during the time period 1964-86. These shifts presumably were reflecting the heightened awareness of the general public of the potential dangers of smoking. However it must be noted that the calculations do not provide a validated estimation of the demand function for cigarettes in the USA. |
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