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Reed, Albert J.; Levedahl, J. William; Clark, J. Stephen. |
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. Key words: commodity aggregation, Composite Commodity Theorem, composite demand, Generalized Composite Commodity Theorem, quantity-quality decomposition |
Tipo: Journal Article |
Palavras-chave: Commodity aggregation; Composite Commodity Theorem; Composite demand; Generalized Composite Commodity Theorem; Quantity-quality decomposition; Demand and Price Analysis. |
Ano: 2003 |
URL: http://purl.umn.edu/30719 |
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Levedahl, J. William; Reed, Albert J.. |
Changes in both retail and wholesale infant formula prices can affect the ability of WIC to supply infant formula to participants. This paper constructs a joint relationship that links national wholesale and retail infant formula prices to economic and policy variables. This joint framework provides a richer interpretation of current issues and questions associated with these markets than frameworks intent on explaining either retail or wholesale prices alone. We show how this framework can be implemented empirically, and demonstrate how it can be used to obtain empirical estimates of retail and wholesale price flexibilities with respect to rebates, and with respect to changes in WIC participation. Both have implications for cost containment. |
Tipo: Conference Paper or Presentation |
Palavras-chave: Women; Infant and Children Program; Infant formula rebates; Price analysis; Food Security and Poverty; I38; D40. |
Ano: 2005 |
URL: http://purl.umn.edu/19274 |
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