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This book on demand analysis links economic theory to empirical analysis. It provides insights on three levels. First, it reveals something about the economic universe. Second, it illustrates the advantages and disadvantages of various functional forms, and of demographic and stochastic specifications which have wide applicability in empirical demand analysis. Third, it supports the authors' methodological claim that theory provides a useful framework for empirical analysis.
Review: Those who are or aspire to be demand analysts will want to buy this book, read it through, refer to it often, and thank Pollak and Wales for their efforts. (The Journal of Consumer Affairs)
Title: Demand System Specification and Estimation
Publisher: Oxford University Press
Publication Date: 1995
Binding: paperback
Condition: New