DEMAND FOR MEAT AND FISH PRODUCTS IN KOREA



The AIDS developed by Deaton and Muellbauer is specified as

n

(3)             Wi = αi +Yij log Pj + βilog( E / P ),         i = 1,2,..., n,

j=1

where wi is the budget share of the ith good, E is the total expenditure on the group of goods,
and log
P is the price index for the group defined as

1nn

(4)           log P=ai+bilog pi+⅛∑∑ cjlog pi log pj.

2 i=1 j=1

This price index makes the system nonlinear. To make the model linear in parameters,

Deaton and Muellbauer suggested using Stone’s price index defined as

n

(5)             logP*=wi,tlogpi,t.

i=1

The model which uses Stone’s price index is the Linear Approximate AIDS (LA/AIDS)
as follows

n

(6)             wi = αi + Yij log Pj + βlog( e / P *),        i = 1,2,...,n.

j=1



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