A nested CES-type utility function and its demand and price-index functions |
| |
Authors: | Wouter J Keller |
| |
Institution: | Erasmus University, Rotterdam, The Netherlands |
| |
Abstract: | The nested CES-type utility function is introduced in this paper: it consists of an N-level utility tree of slightly modified CES-type functions. Attractive price- and quantity-indices are developed and an elegant system of demand functions, specified in terms of price-indices, results. In addition, some suggestions are made with respect to the estimation of this system. |
| |
Keywords: | |
本文献已被 ScienceDirect 等数据库收录! |
|