TY - JOUR
T1 - Consumer demand with variable preferences in taiwan
T2 - an application of the generalized Fechner-Thurstone direct utility function
AU - Lieu, Pang Tien
AU - Mizzi, Philip
AU - White, Stephen N.
PY - 1992
Y1 - 1992
N2 - Time series data on five consumer commodity groups for Taiwan are analyzed using the generalized Fechner-Thurstone direct utility function. Income and price-demand elasticities are derived from unconstrained maximum likelihood estimates of the constant elasticities of marginal rates of substitutions. The elasticities are similar to those obtained for Taiwan using a translog indirect utility function. However, the estimates obtained for Taiwan are significantly different from those reported by other researchers for South Korea and the United States which serves as an indication of differences in the stages of economic development between the economies.
AB - Time series data on five consumer commodity groups for Taiwan are analyzed using the generalized Fechner-Thurstone direct utility function. Income and price-demand elasticities are derived from unconstrained maximum likelihood estimates of the constant elasticities of marginal rates of substitutions. The elasticities are similar to those obtained for Taiwan using a translog indirect utility function. However, the estimates obtained for Taiwan are significantly different from those reported by other researchers for South Korea and the United States which serves as an indication of differences in the stages of economic development between the economies.
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U2 - 10.1016/1049-0078(92)90018-T
DO - 10.1016/1049-0078(92)90018-T
M3 - Article
AN - SCOPUS:44049123471
SN - 1049-0078
VL - 3
SP - 281
EP - 294
JO - Journal of Asian Economics
JF - Journal of Asian Economics
IS - 2
ER -