Data-Analytic Techniques for Consumer Economics
This chapter introduces a number of new data-analytic techniques which can be used in consumption economics. These techniques are useful to apply before estimating demand equations to obtain a general feel for the data and provide summary measures of the data and informal estimates of key demand parameters. The Demand Analysis Package DAP (S. Selvanathan et al., 1989) implements many of these techniques in a convenient manner.
KeywordsRelative Price Income Elasticity Demand Equation Budget Share Total Alcohol
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