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Two-Stage Utility Maximization and Import Demand Systems Revisited: Limitations and an Alternative

Two-stage utility maximization theory has been widely used in the literature to estimate import demand for agricultural commodities that are often inputs. This article examines the overlooked conceptual and empirical limitations of applying two-stage utility maximization theory to model the demand f...

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Principais autores: George C. Davis, Kimberly L. Jensen
Format: Artigo
Sprog:Inglês
Udgivet: Western Agricultural Economics Association 1994-12-01
Serier:Journal of Agricultural and Resource Economics
Fag:
conditional elasticities
import demand
two-stage maximization
unconditional elasticities
weak separability
Online adgang:https://ageconsearch.umn.edu/record/30757
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