Article2003

Quasi‐ and Simulated‐Likelihood Approaches to Censored Demand Systems: Food Consumption by Food Stamp Recipients in the United States

Steven T. Yen · Biing‐Hwan Lin · David M. Smallwood

174 citations0/0 files storedAmerican Journal of Agricultural Economics

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Economics of Agriculture and Food Markets Consumer Market Behavior and Pricing Economic and Environmental Valuation

Abstract

A quasi‐maximum‐likelihood estimator is proposed and applied to a censored Translog demand system for foods, using a sample of food stamp recipients in the United States. The procedure produces remarkably close parameter and elasticity estimates to those of the simulated‐maximum‐likelihood procedure. A two‐step procedure is also considered but it produces different elasticities. Demands are found to be price elastic for pork and fish but price inelastic for all other food products. Gross complementarity and net substitutability are obvious but these cross‐price effects are much less pronounced than own‐price and total food expenditure effects.

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References

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