Econometrica: Jan 1970, Volume 38, Issue 1
Value Share Transitions in Consumer Demand Theory
Henri TheilA value share is defined as the ratio of the expenditure of the ith commodity to total expenditure. Some value shares go up and others go down in successive periods, and in this article the problem is raised whether one can define transitions from the ith share to the jth in an attractive way. The procedure is applied to Dutch data in the period 1921-1963.
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