Barnett, William A. and Serletis, Apostolos (2008): Consumer preferences and demand systems.

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Abstract
This paper is an uptodate survey of the stateoftheart in consumer demand modelling. We review and evaluate advances in a number of related areas, including different approaches to empirical demand analysis, such as the differential approach, the locally �flexible functional forms approach, the seminonparametric approach, and a nonparametric approach. We also address estimation issues, including sampling theoretic and Bayesian estimation methods, and discuss the limitations of the currently common approaches. We also highlight the challenge inherent in achieving economic regularity, for consistency with the assumptions of the underlying neoclassical economic theory, as well as econometric regularity, when variables are nonstationary.
Item Type:  MPRA Paper 

Original Title:  Consumer preferences and demand systems 
Language:  English 
Keywords:  Representative consumer; Engel curves; rank; flexible functional forms; parametric tests; nonparametric tests; theoretical regularity 
Subjects:  C  Mathematical and Quantitative Methods > C1  Econometric and Statistical Methods and Methodology: General > C14  Semiparametric and Nonparametric Methods: General C  Mathematical and Quantitative Methods > C5  Econometric Modeling > C50  General C  Mathematical and Quantitative Methods > C3  Multiple or Simultaneous Equation Models; Multiple Variables > C30  General C  Mathematical and Quantitative Methods > C1  Econometric and Statistical Methods and Methodology: General > C11  Bayesian Analysis: General 
Item ID:  8413 
Depositing User:  William A. Barnett 
Date Deposited:  24. Apr 2008 01:01 
Last Modified:  12. Feb 2013 13:04 
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URI:  http://mpra.ub.unimuenchen.de/id/eprint/8413 