Deriving a Flexible Mixed Demand System: The Normalized Quadratic Model
نویسندگان
چکیده
منابع مشابه
Deriving a Flexible Mixed Demand System: the Normalized Quadratic Model
This article deals with the specification of a locally flexible and theory-consistent system of mixed demand functions, a framework that allows for a rich set of possibilities about what is assumed as exogenous in a demand model. A coherent mixed demand system is derived by using the restricted expenditure function typically studied in the related area of rationed demands. The method is impleme...
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In recent years, flexible manufacturing system as a response to market demands has been proposed to increase product diversity, optimum utilization of machines andperiods of short-term products.The development of computer systems has provided the ability to build machines with high functionality and the necessary flexibility to perform various operations. However, due to the complexity and the ...
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A concise introduction to the Normalized Quadratic expenditure or cost function is provided so that the interested reader will have the necessary information to understand and use this functional form. The Normalized Quadratic is an attractive functional form for use in empirical applications as correct curvature can be imposed in a parsimonious way without losing the desirable property of flex...
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Estimation of flexible functional forms for large consumer or producer demand systems is often precluded due to computational difficulties or due to a lack of degrees of freedom. We propose the concept of a semiflexible form, which is a special case of a flexible form but which requires fewer free parameters. Our proposed method of estimation allows the researcher to choose the degree of flexib...
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ژورنال
عنوان ژورنال: American Journal of Agricultural Economics
سال: 2007
ISSN: 0002-9092,1467-8276
DOI: 10.1111/j.1467-8276.2007.01027.x