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Commercial Disappearance and Composite Demand for Food with an Application to U.S. Meats
When elementary prices move strictly proportionately, aggregation over a group of diverse products is valid, and group demand responses can be decomposed into quality and quantity responses. This study shows that when relative elementary prices and group prices are stochastically independent, a simi...
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| Published in: | Journal of agricultural and resource economics 2003-04, Vol.28 (1), p.53-70 |
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| Main Authors: | , , |
| Format: | Article |
| Language: | English |
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| container_end_page | 70 |
| container_issue | 1 |
| container_start_page | 53 |
| container_title | Journal of agricultural and resource economics |
| container_volume | 28 |
| creator | Reed, Albert J. Levedahl, J. William Clark, J. Stephen |
| description | When elementary prices move strictly proportionately, aggregation over a group of diverse products is valid, and group demand responses can be decomposed into quality and quantity responses. This study shows that when relative elementary prices and group prices are stochastically independent, a similar decomposition is valid. Empirical results suggest consumers respond to changes in prices and income mostly by altering the quality of meat products. These findings imply that using commercial disappearance as a proxy for food demand can be misleading for policy analysis. |
| doi_str_mv | 10.22004/ag.econ.30719 |
| format | article |
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| identifier | ISSN: 1068-5502 |
| ispartof | Journal of agricultural and resource economics, 2003-04, Vol.28 (1), p.53-70 |
| issn | 1068-5502 2327-8285 |
| language | eng |
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| source | EconLit s plnými texty; Publicly Available Content Database; JSTOR Archival Journals and Primary Sources Collection; ABI/INFORM Global |
| subjects | Beef Commodities commodity aggregation composite commodity theorem Composite demand Consumers Decomposition Elasticity of demand Expenditures Food demand Food products generalized composite commodity theorem Income elasticity of demand Meat products Meat quality Meats Per capita Pork Poultry Price elasticity Price elasticity of demand Price indices Prices quantity-quality decomposition Restrictions |
| title | Commercial Disappearance and Composite Demand for Food with an Application to U.S. Meats |
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