A Method of Consumer Demand Analysis Illustrated

The purpose of this paper is to outline by means of an illustrative experiment a method of consumer demand analysis designed to exploit the probable existence of marked gaps in the chain of substitutes.1 No attempt has been made to do more than introduce the subject. Indeed, the procedures to be described are so flexible and so widely applicable that no single individual could hope to undertake personally more than a fraction of the work which must be carried out before the usefulness of the approach can be said to have been fully tested. Moreover, the scheme developed has a very great bearing upon rules which should perhaps govern the compilation of raw statistics. The principles underlying the computations are equally applicable to the process of collection and classification of expenditure data. These are the considerations which have prompted the publication of estimates of demand elasticities and cross elasticities at a stage when it is also necessary to urge that they should not be looked upon as firm results to be quoted or used in any kind of argument in support of policy

Argument (complex analysis) · Econometrics · Economics · Exploit · Fraction (chemistry) · Operations research · Order (exchange) · Process (computing) · Raw data · Work (physics) · Computer Science · Consumer Market Behavior and Pricing · Engineering · Mathematics

• Surveys in Applied Economics

  Alan Brown, Angus Deaton•The Economic Journal•1972

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