Agricultural Development Economics
 

Publication

Title
Cross entropy estimation of the almost ideal demand system for Greek consumption
Author
G. Rapsomanikis, K. Balcombe, S. Klonaris
Publication date
04/03/2003
Abstract
Cross entropy is used to estimate the Almost Ideal Demand System for consumption in Greece. The entropy estimates are found to improve upon the SUR estimates. It is recommended that practitioners consider employing entropy based procedures in systems where the data set is small, where there are a large number of parameters, or where the data are deficient.