publication . Article . 1997

Product Aggregation Bias as a Specification Error in Demand Systems

George C. Davis;
Open Access
  • Published: 01 Jan 1997 Journal: American Journal of Agricultural Economics, volume 79, issue 1, pages 100-109
Abstract
Inherent in all demand studies is some form of product aggregation which can lead to product aggregation bias. This article develops a simple procedure for incorporating product aggregation bias in demand systems that permits testing of product aggregation bias with a standard likelihood ratio test. An empirical illustration of the procedure demonstrates the importance of proper product aggregation. Copyright 1997, Oxford University Press.
Subjects
free text keywords: Agricultural and Biological Sciences (miscellaneous), Economics and Econometrics
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