Samuelson's full duality and the use of directed acyclical graphs

abstract

• To date, mixed demand systems have been all but ignored in empirical work. A possible reason for the scarcity of such applications is that one needs to know a priori which prices and quantities are endogenous in the mixed demand system. By using a directed acyclical graph (DAG), causal relationships among price and quantity variables are identified giving rise to a causally identified mixed demand system. A statistical comparison is made of the traditional Rotterdam model, a synthetic demand system, which subsumes the traditional Rotterdam model, and a Rotterdam mixed demand system identified through the use of a DAG. In this analysis, the respective demand systems consist of five products: steak, ground beef, beef roasts, pork, and chicken.

authors

• Bessler, David
• Capps, Oral

published proceedings

• JOURNAL OF APPLIED ECONOMICS

author list (cited authors)

• Stockton, M. C., Capps, O. J., & Bessler, D. A.

citation count

• 2

complete list of authors

• Stockton, Matthew C||Capps, Oral Jr||Bessler, David A

publication date

• May 2008

publisher

• Taylor & Francis  Publisher

published in

• Journal of Applied Economics  Journal

keywords

• Directed Acyclic Graphs
• Mixed Demand Systems

Digital Object Identifier (DOI)

• 10.1080/15140326.2008.12040503

start page

• 167

end page

• 191

volume

• 11

issue

• 1

URL

• http://dx.doi.org/10.1080/15140326.2008.12040503