What does LES stand for?

Linear Expenditure System

This definition appears very rarely and is found in the following Acronym Finder categories:

Science, medicine, engineering, etc.

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Samples in periodicals archive:

Providing expenditure elasticities, own- and cross-price elasticities, and other effects of policy interest, demand systems have been extensively used in econometric analysis of consumer behavior ever since the introduction of the pioneering linear expenditure system (LES) of Stone (1954).

Differential demand systems: a further look at Barten's synthesis

6) Bralthwait estimated the complete set of demand equations corresponding to three specifications of preferences, the linear expenditure system(7) the generalized linear expenditure system,s and the indirect addilog.

The commodity substitution effect in CPI data, 1982-91

Given this theoretical foundation, the fourth chapter specifies first a direct-utility function and derives the mathematical conditions necessary for obtaining the parameters of the linear expenditure system (LES).

Measuring Welfare Changes and Tax Burdens