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A Bayesian approach enables us to easily handle censored data, test and impose inequality restrictions (strict cost monotonicity) and concavity of the cost function, and perform inference of nonlinear functions of the parameter estimates as by\u2010product of the posterior chains. We compare our proposal with Lewbel and Pendakur (2009)'s results, based on iterative linear three\u2010stage least squares (3SLS). Although we found no statistically significant differences in point estimates between these two approaches, it seems that ignoring censoring overestimates precision.<\/jats:p>","DOI":"10.1002\/jae.2814","type":"journal-article","created":{"date-parts":[[2021,4,14]],"date-time":"2021-04-14T21:36:30Z","timestamp":1618436190000},"page":"484-491","update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":5,"title":["Bayesian estimation of the exact affine Stone index demand system: Replicating the Lewbel and Pendakur (2009) results"],"prefix":"10.1002","volume":"36","author":[{"given":"Andr\u00e9s","family":"Ram\u00edrez\u2010Hassan","sequence":"first","affiliation":[{"name":"Department of Economics, School of Economics and Finance EAFIT University  Medell\u00edn Colombia"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"311","published-online":{"date-parts":[[2021,4,25]]},"reference":[{"key":"e_1_2_8_2_1","doi-asserted-by":"publisher","DOI":"10.1162\/003465397557015"},{"key":"e_1_2_8_3_1","doi-asserted-by":"publisher","DOI":"10.1111\/agec.12019"},{"key":"e_1_2_8_4_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jeconom.2008.01.007"},{"issue":"3","key":"e_1_2_8_5_1","first-page":"312","article-title":"An almost ideal demand system","volume":"70","author":"Deaton A.","year":"1980","journal-title":"American Economic Review"},{"key":"e_1_2_8_6_1","volume-title":"Introduction to Bayesian econometrics","author":"Greenberg E.","year":"2008"},{"key":"e_1_2_8_7_1","doi-asserted-by":"publisher","DOI":"10.1093\/ajae\/aar059"},{"key":"e_1_2_8_8_1","doi-asserted-by":"publisher","DOI":"10.1093\/erae\/jbz002"},{"key":"e_1_2_8_9_1","volume-title":"Bayesian econometrics","author":"Koop G. 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