World consumption economics / Chen Dongling, with Kenneth W. Clements.

Format:

Book

Author/Creator:

Chen, Dongling.

Contributor:

Clements, Kenneth W., 1950-

Language:

English

Subjects (All):

Consumption (Economics)--Mathematical models.

Consumption (Economics).

Demand (Economic theory).

Physical Description:

1 online resource (238 p.)

Other Title:

Consumption economics

Place of Publication:

Singapore ; River Edge, NJ : World Scientific, c1999.

Language Note:

English

Summary:

This book extends research in consumption economics by identifying similarities and differences in consumption patterns in a large number of countries, both developed and less developed. Its approach is to carefully analyze a large body of data from a highly diverse group of countries to determine the extent to which a simple economic framework can be used to understand and explain consumer behavior. It uses data from more than 40 countries which range from the most affluent to the poorest in the world. The book pays particular attention to the consumption of food and to new simulation techniq

Contents:

ABOUT THE AUTHOR; ABOUT THE CONTRIBUTORS; FOREWORD; PREFACE; TABLE OF CONTENTS; LIST OF TABLES; LIST OF FIGURES; CHAPTER 1 INTRODUCTION; 1 CONSUMPTION AND THE WORLD ECONOMY; 2 A PREVIEW; REFERENCES; CHAPTER 2 CONSUMPTION IN LDCS; 1 INTRODUCTION; 2 OVERVIEW; 3 THE DATA; 4 SOME NOTES OF CAUTION; 5 MORE ON THE OUTLIERS; 6 COMPARISON WITH OECD CONSUMPTION PATTERNS; REFERENCES; CHAPTER 3 EMPIRICAL REGULARITIES IN CONSUMPTION PATTERNS OF LDCS; 1 INTRODUCTION; 2 THE DATABASE; 3 BUDGET SHARES AND PRICE AND QUANTITY LOG-CHANGES; 4 DIVISIA MOMENTS; 5 ESTIMATES OF DEMAND EQUATIONS

6 OVERVIEW OF THE ELASTICITIES7 A FURTHER COMPARISON WITH OECD CONSUMPTION PATTERNS; 8 COMPARING THE DEMAND ELASTICITIES; REFERENCES; CHAPTER 4 CONSUMPTION IN 43 COUNTRIES; 1 THREE DATABASES; 2 MERGING THE DATABASES; 3 OVERLAPPING AND OUTLYING OBSERVATIONS; 4 GROSS DOMESTIC PRODUCT; 5 THE FINAL DATABASE; 6 INTERNATIONAL DOLLARS VERSUS US DOLLARS; 7 BUDGET SHARES, PRICES AND QUANTITIES; 8 DIVISIA MOMENTS; REFERENCES; CHAPTER 5 INCOME AND WORLD FOOD CONSUMPTION; 1 INTRODUCTION; 2 WORKING'S MODEL; 3 ALTERNATIVE FUNCTIONAL FORMS; 4 THE FOOD INCOME ELASTICITY; 5 A QUALIFICATION TO WORKING'S MODEL

6 EXTREME LEVELS OF INCOME7 IS FOOD INFERIOR?; 8 THE STRONG VERSION OF ENGEL'S LAW; 9 THE ROLE OF TIME TRENDS; 10 THE MAXIMUM LIKELIHOOD PROCEDURE; 11 TIME-SERIES VERSUS CROSS-SECTION ESTIMATES; 12 THE PRICE RESPONSIVENESS OF CONSUMPTION; 13 MORE ON THE FOOD PRICE ELASTICITY; APPENDIX; REFERENCES; CHAPTER 6 FOOD CONSUMPTION IN RICH COUNTRIES; 1 INTRODUCTION; 2 OECD FOOD CONSUMPTION AND WORKING'S MODEL; 3 PRELIMINARY ANALYSIS; 4 MORE EVIDENCE ON WOIKING'S MODEL; 5 ADDING A SUBSTITUTION TERM; 6 IMPLICATIONS; REFERENCES; CHAPTER 7 A DEMAND SYSTEM FOR THE WORLD; 1 INTRODUCTION

2 A DIFFERENTIAL DEMAND SYSTEM3 THE DATABASE; 4 THE UNRESTRICTED ESTIMATES; 5 HOMOGENEITY; 6 SYMMETRY; 7 PREFERENCE INDEPENDENCE; 8 A SIMULATION OF THE ASYMPTOTIC TEST OF PREFERENCE INDEPENDENCE; 9 MONTE CARLO TESTING; 10 THE QUALITY OF THE ML ESTIMATES; 11 MORE ON THE STRONG VERSION OF ENGEL'S LAW; 12 THE PREFERRED MODEL; 13 THE INCOME AND PRICE ELASTICITIES; 14 ARE TASTES CONSTANT?; APPENDIX; A1 MORE ON MONTE CARLO TESTING; A2 MORE ON THE CONSTANCY OF TASTES; REFERENCES; CHAPTER 8 SIMULATING DEMAND SYSTEMS; 1 INTRODUCTION; 2 DIFFERENTIAL DEMAND SYSTEMS AGAIN

3 VERIFYING A DEMAND SYSTEM BY SIMULATION4 A GENERALISATION; 5 A MATRIX APPROACH; 6 A LOSS FUNCTION; 7 CONCLUDING COMMENTS; REFERENCES; AUTHOR INDEX; SUBJECT INDEX

Notes:

Originated as author's Ph. D. thesis, Univ. of W. Australia.

Includes bibliographical references and indexes.

ISBN:

9789812815323

9812815325