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- W2021470824 abstract "In this paper, time series annual data on five consumer goods for Korea are analyzed using the neoclassical model of consumer behavior. The approach taken is the indirect utility function and employs a translog form. Various restrictive specifications of consumer preferences with respect to homotheticity and separability are examined and rejected by the likelihood ratio test. Income and price elasticities are estimated, which appear to be generally high relative to those of developed countries. Growth in real income is primarily responsible for changes in commodity demand. Marginal utilities of income and associated income elasticities are calculated, which are consistent with normal expectations." @default.
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- W2021470824 date "1986-03-01" @default.
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- W2021470824 title "Estimating consumer demand in Korea" @default.
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- W2021470824 doi "https://doi.org/10.1016/0304-3878(86)90028-3" @default.
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