Information theoretic measures of the income distribution in food demand

J. T. LaFrance; T. K.M. Beatty; R. D. Pope; G. K. Agnew

doi:10.1016/S0304-4076(01)00122-1

Information theoretic measures of the income distribution in food demand

J. T. LaFrance, T. K.M. Beatty, R. D. Pope, G. K. Agnew

Research output: Contribution to journal › Article › Research › peer-review

16 Citations (Scopus)

Abstract

A new method to nest, estimate and test the rank and functional form of the income terms in an incomplete system of demand equations is developed. Information theory is employed to infer the U.S. income distribution from data on quintile and top five percentile income ranges and intra-quintile and top five percentile mean incomes. Maximum entropy income distributions are combined with data on the U.S. demand for 21 food items to estimate U.S. food demand over the period 1919-1995, excluding 1942-1946.

Original language	English
Pages (from-to)	235-257
Number of pages	23
Journal	Journal of Econometrics
Volume	107
Issue number	1-2
DOIs	https://doi.org/10.1016/S0304-4076(01)00122-1
Publication status	Published - 1 Mar 2002
Externally published	Yes

Keywords

Functional form
Incomplete demand systems
Information theory
Maximum entropy
Rank of demand models

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10.1016/S0304-4076(01)00122-1

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keywords = "Functional form, Incomplete demand systems, Information theory, Maximum entropy, Rank of demand models",

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AU - Beatty, T. K.M.

AU - Pope, R. D.

AU - Agnew, G. K.

PY - 2002/3/1

Y1 - 2002/3/1

N2 - A new method to nest, estimate and test the rank and functional form of the income terms in an incomplete system of demand equations is developed. Information theory is employed to infer the U.S. income distribution from data on quintile and top five percentile income ranges and intra-quintile and top five percentile mean incomes. Maximum entropy income distributions are combined with data on the U.S. demand for 21 food items to estimate U.S. food demand over the period 1919-1995, excluding 1942-1946.

AB - A new method to nest, estimate and test the rank and functional form of the income terms in an incomplete system of demand equations is developed. Information theory is employed to infer the U.S. income distribution from data on quintile and top five percentile income ranges and intra-quintile and top five percentile mean incomes. Maximum entropy income distributions are combined with data on the U.S. demand for 21 food items to estimate U.S. food demand over the period 1919-1995, excluding 1942-1946.

KW - Functional form

KW - Incomplete demand systems

KW - Information theory

KW - Maximum entropy

KW - Rank of demand models

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JO - Journal of Econometrics

JF - Journal of Econometrics

IS - 1-2

ER -

Information theoretic measures of the income distribution in food demand

Abstract

Keywords

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