Abstract

http://ssrn.com/abstract=1857634
 


 



Exact Aggregation of Consumer Demand Systems


John Heineke


Santa Clara University - Leavey School of Business

1993

Ricerche Economiche, Vol. 47, pp. 215-232, 1993

Abstract:     
This paper is divided into two parts which deal with closely connected issues, The first section of the paper explores the structure of consumer demand systems necessary and sufficient for exact aggregation. The second section addresses a related empirical question: what, if anything, do the restrictions imposed on exactly aggregable demand systems buy the econometrician engaged in estimating integrable consumer demands? In particular, if the objective of an empirical exercise is to estimate the demand systems of individual utility maximizing consumers and only aggregate expenditure information and information on the income and demographic composition of the population are available, then under what conditions can the parameters of the estimated aggregate expenditure system be used to uniquely identify the parameters of the underlying individual demand systems?

Number of Pages in PDF File: 18

Keywords: exact aggregation, finite basis property, statistical

JEL Classification: C43, C81, D11

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Date posted: June 5, 2011  

Suggested Citation

Heineke, John, Exact Aggregation of Consumer Demand Systems (1993). Ricerche Economiche, Vol. 47, pp. 215-232, 1993. Available at SSRN: http://ssrn.com/abstract=1857634

Contact Information

John Heineke (Contact Author)
Santa Clara University - Leavey School of Business ( email )
500 El Camino Real
Santa Clara, CA 95053
United States
408-554-4346 (Phone)
408-554-2331 (Fax)
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