$10 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA V/2IA - 28 
PART III 
CONFRONTATION OF THE MODEL 
AND OSBERVED DATA 
A. — THE GENERAL MODEL AND OBSERVED DATA 
310. In my Tokyo monograph (1960) and my New York 
lecture (1961), I examined the justifications of the hypotheses 
made in, and the conclusions flowing from, the model whose 
main properties have been described in the preceding sections, 
both for the general case and for the case of exponential decline 
of the elasticity B(0). 
In the space at my disposal, it is not possible to cover 
these different points in detail, and I will do no more than 
recall the main features. The interested reader can find the 
Jetails in my earlier publications. The discussion below also 
ireats of several particularly interesting technical points which 
[ have not previously had occasion to present. 
For clarity’s sake, the general model will be studied first. 
. ESTIMATION OF THE PARAMETERS OF THE GENERAL MODEL 
() The Coefficient of Homogeneity k 
311. I suggested in my Tokyo monograph (!), and in my 
Econometrica article that there are three reasons for believing 
that 
311-1, 
(!) Arrars (1960 A) § 30. 
11] Allais - pag. 114