Nesting quadratic logarithmic demand systems
AuthorLyssiotou, Panayiota Flori
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We propose a new generalised rank-3 demand system which nests all known (and new) rank-3 and rank-2 demand systems derived from the Quadratic Logarithmic (QL) cost function. We investigate its statistical adequacy against commonly encountered alternatives using UK household data. © 2002 Elsevier Science B.V. All rights reserved.