The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Nov, 1988, Volume 56, Issue 6
https://doi.org/0012-9682(198811)56:6<1301:HEOSIC>2.0.CO;2-Y
p. 1301-1314
Julie A. Nelson
This study incorporates household economies of scale in consumption into a utility-theoretic model of household demands. Economies of scale are modeled as arising through (possibly congestible) household public goods, through increasing returns in household production, and/or through discounts for bulk purchases. The effects of economies of scale are isolated from other influences on demands by the assumption that individuals are identical and are symmetrically treated within households. Economies of scale parameters for five goods are estimated using a theoretically plausible demand system specification and data from the U.S. Consumer Expenditure Survey on expenditures by all-adult households. Results suggest the existence of significant economies of scale in the consumption of all of the included goods (food, shelter, clothing, household furnishings and operations, and transportation), with economies being especially pronounced in the consumption of shelter.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
