The analysis of consumption demand using the estimated preference function

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概要

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• The purpose of this paper is to investigate properties of the Paretoan multi-item consumption demand functions. In section 1 we will examine characteristics of the Bernoulli-Laplace type preference function, from which our consumption demand functions are derived, in connection with the linear expenditure system and describe the data used for estimation. In section 2 we examine the goodness of fit of the estimated Bernoulli-Laplace type preference function for the interpolation period of 13 years from 1955 to 1967 and for the extrapolation period of five years from 1968 to 1972 and investigate the stability of parameters of the preference function. In section 3 we calculate the critically required minimum amounts of goods and services, their demand elasticities and the theoretical consumer price index based on the utility theory, and finally investigate how well the behavior of the composite price of the Marshallian demand functions approximates that of the composite price theoretically derived on the basis of the Paretoan multi-item consumption demand functions that are reduced from the preference function.

• 慶應義塾大学の論文

著者

• Maki Atsushi

  Society Of Business And Commerce Keio University

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