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Specification and Estimation of Demographic Demand Systems, Equivalence Scales with Selective Empirical Evidence

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Household Behaviour, Prices, and Welfare

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Abstract

The standard approach to demand specification is to either assume a functional form for the utility function and maximise it subject to the individual’s budget constraint or minimise the individual’s cost or expenditure function subject to the utility set at a prespecified value.

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Notes

  1. 1.

    See Ray (1991) for an early review of the Indian literature on demand estimations and their welfare applications.

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Authors and Affiliations

  1. Department of Economics, Monash University, Clayton, VIC, Australia

    Ranjan Ray

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  1. Ranjan Ray
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Correspondence to Ranjan Ray .

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Ray, R. (2018). Specification and Estimation of Demographic Demand Systems, Equivalence Scales with Selective Empirical Evidence. In: Household Behaviour, Prices, and Welfare. Themes in Economics. Springer, Singapore. https://doi.org/10.1007/978-981-13-1930-3_2

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  • DOI: https://doi.org/10.1007/978-981-13-1930-3_2

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  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-13-1929-7

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