Aggregate consumer behavior

書誌事項

Aggregate consumer behavior

Dale W. Jorgenson

(Welfare / Dale W. Jorgenson, v. 1)

MIT Press, c1997

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注記

Includes bibliographical references (p. [511]-522) and index

内容説明・目次

内容説明

This volume presents a new approach to econometric modeling of aggregate consumer behavior. The approach has successfully extricated demand modeling from the highly restrictive framework provided for more than half a century by the model of a representative consumer. Like the representative consumer model that preceded it, the new approach rests on the theory of individual behavior. The centerpiece of the volume is an econometric model of demand obtained by aggregating over a population of utility-maximizing consumers. The essential innovation is to incorporate attributes of consumers reflecting heterogeneous preferences into a model of aggregate behavior. Heterogeneity is captured by allowing preferences to depend on the demographic characteristics of households. This model unifies the two principal streams of empirical research on consumer behavior by pooling aggregate time series with cross-section data for individual households and provides a new point of departure for future research.

目次

  • Part 1 Transcendental logarithmic utility functions, L.R. Christensen et al: introduction
  • transcendental logarithmic utility functions
  • testing the theory of demand
  • empirical results
  • summary and conclusion. Part 2 The structure of consumer preferences, D.W. Jorgenson and L.J. Lau: introduction
  • transcendental logarithmic utility functions with time-varying preferences
  • preference structure
  • empirical results. Part 3 Statistical tests of the theory of consumer behaviour, D.W. Jorgenson and L.J. Lau: introduction
  • integrability
  • additive demand functions
  • Rotterdam demand functions
  • conclusion. Part 4 The integrability of consumer demand functions, D.W. Jorgenson and L.J. Lau: introduction
  • integrability
  • homogeneity and summability
  • symmetry
  • nonnegativity and monotonicity
  • conclusion
  • appendices. Part 5 Testing the integrability of consumer demand functions, United States, 1947-1971, D.W. Jorgenson and L.J. Lau: introduction
  • integrability
  • empirical tests
  • conclusion. Part 6 The structure of consumer preferences, Federal Republic of Germany, 1950-1973, K. Conrad and D.W. Jorgenson: introduction
  • transcendental logarithmic utility functions with time-varying preferences
  • preference structures
  • statistical tests
  • empirical results
  • summary. Part 7 Testing the integrability of consumer demand functions, Federal Republic of Germany, 1950-1973, K. Conrad and D.W. Jorgenson: introduction
  • direct and indirect systems
  • integrability
  • estimation and testing
  • conclusion
  • appendix. Part 8 Transcendental logarithmic model of aggregate consumer behaviour, D.W. Jorgenson et al: introduction
  • exact aggregation for consumers with identical preferences
  • exact aggregation with differences in individual preferences
  • demands as functions of prices
  • translog model of consumer behaviour
  • econometrics of the translog model
  • aggregate consumer behaviour in the United States, 1958-1974
  • appendices. Part 9 Aggregate consumer expenditure on energy, D.W. Jorgenson and T.M. Stoker: aggregate consumer expenditures on energy
  • individual energy expenditures
  • appendix - aggregate energy expenditures. Part 10 Nonlinear three-stage least squares pooling of cross-section and time-series observations, D.W. Jorgenson and T.M. Stoker: introduction
  • stochastic specification
  • the nonlinear three-stage least squares estimator
  • parametric hypothesis tests
  • estimation subject to inequality restrictions
  • illustration - residential demand for energy
  • conclusion
  • appendices. Part 11 Two-stage budgeting and consumer demand for energy, D.W. Jorgenson et al: introduction
  • translog model of consumer behaviour
  • econometrics of exact aggregation
  • empirical results
  • appendix - instrumental variables, 1958-1978.

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  • Welfare

    Dale W. Jorgenson

    MIT Press 1997

    所蔵館1館

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