Replication data for: Tricks with Hicks: The EASI Demand System

Principal Investigator(s):  View help for Principal Investigator(s) Arthur Lewbel; Krishna Pendakur

Version:  View help for Version V1

Name File Type Size Last Modified
LICENSE.txt text/plain 14.6 KB 10/12/2019 05:36:AM
README.txt text/plain 466 bytes 10/12/2019 05:36:AM
ReadMe.pdf application/pdf 8.3 KB 10/12/2019 05:36:AM
hixdata.dta application/octet-stream 417 KB 10/12/2019 05:36:AM
iterated-3sls-with-pz-py-zy.do text/plain 12.1 KB 10/12/2019 05:36:AM
iterated-3sls-without-pz-py-zy.do text/plain 5 KB 10/12/2019 05:36:AM

Project Citation: 

Lewbel, Arthur, and Pendakur, Krishna. Replication data for: Tricks with Hicks: The EASI Demand System. Nashville, TN: American Economic Association [publisher], 2009. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113307V1

Project Description

Summary:  View help for Summary We invent Implicit Marshallian demands, which combine desirable features of Hicksian and Marshallian demands. We propose and estimate the Exact Affine Stone Index (EASI) implicit Marshallian demand system. Like the Almost Ideal Demand (AID) system, EASI budget shares are linear in parameters given real expenditures. However, unlike the AID, EASI demands can have any rank and its Engel curves can have any shape over real expenditures. EASI error terms equal random utility parameters to account for unobserved preference heterogeneity. EASI demand functions can be estimated using GMM or three stage least squares, and, like AID, an approximate EASI model can be estimated by linear regression. (JEL D11, D12)

Scope of Project

JEL Classification:  View help for JEL Classification
      D11 Consumer Economics: Theory
      D12 Consumer Economics: Empirical Analysis


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V1 [2019-10-12]

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