AIDS versus the Rotterdam Demand System: A Cox Test with Parametric Bootstrap

AIDS versus the Rotterdam Demand System: A Cox Test with Parametric Bootstrap

A Cox test with parametric bootstrap is developed to select between the linearized version of the First-Difference Almost Ideal Demand System (FDAIDS) and the Rotterdam model. A Cox test with parametric bootstrap has been shown to be more powerful than encompassing tests like those used in past rese...

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Veröffentlicht in:Journal of Agricultural and Resource Economics 2002-12, Vol.27 (2), p.335-347
Hauptverfasser: Dameus, Alix, Richter, Francisca G.-C., Brorsen, B. Wade, Sukhdial, Kullapapruk Piewthongngam
Format: Artikel
Sprache:eng
Schlagworte:
Beef
Datasets
Dependent variables
Economic models
first-difference aids model
Hypotheses
Lagrange multiplier
Meats
Modeling
Null hypothesis
parametric bootstrap
Parametric models
Pork
Power
Research Methods/ Statistical Methods
rotterdam model
Simulations
Statistics
Variables
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Beschreibung
Zusammenfassung:A Cox test with parametric bootstrap is developed to select between the linearized version of the First-Difference Almost Ideal Demand System (FDAIDS) and the Rotterdam model. A Cox test with parametric bootstrap has been shown to be more powerful than encompassing tests like those used in past research. The bootstrap approach is used with U.S. meat demand (beef, pork, chicken, fish) and compared to results obtained with an encompassing test. The Cox test with parametric bootstrap consistently indicates the Rotterdam model is preferred to the FDAIDS, while the encompassing test sometimes fails to reject FDAIDS.
ISSN:1068-5502
2327-8285
DOI:10.22004/ag.econ.31126