Abstract:The results show that demand decreases with prices. They indicate that if we take a household with particular characteristics and vary only the marginal price a negative relationship holds between quantity and price. While this approach is less informative than that of section 1I, table 4 supports the downward sloping demand curve results rather than those produced in the Rosen framework and does not make any assumptions regarding the household's utility function. IV. Conclusion This paper develops estimates o… Show more
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