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Enhancing the Profitability of Horticultural Products with Market Based Information AgEcon
Kyei, Prince; Ejimakor, Godfrey.
In addition to regional variations, demand for poinsettias was shown to depend on its price. Based on state-level data for 2005,demand in the Northeast and Midwest regions of the U.S. were found to be inelastic. This suggests that the market for poinsettias in both regions could support higher prices.
Tipo: Conference Paper or Presentation Palavras-chave: Demand structure; Elasticity; Poinsettias; Green industry; S1021; Agribusiness; Community/Rural/Urban Development; Demand and Price Analysis.
Ano: 2010 URL: http://purl.umn.edu/57077
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DEMAND FOR HEALTHY FOOD IN THE UNITED STATES AgEcon
Feng, Xudong; Chern, Wen S..
This study investigates the demand for selected healthy food groups in the United States. The original linear approximate almost ideal demand system (LA/AIDS) is modified by the use of a Laspeyres index and a normalization in order to compute demand elasticities identically to the AIDS model. The results of this study suggest that poultry is the most price elastic while cereals are the least price elastic. Fresh fruits and fresh vegetables are more price elastic than processed fruits and processed vegetables. Increasing income would induce the increases in the consumption of fresh vegetables and fruits more than that of cereals and bakery products, while increasing health risk concerns would induce the decreases in the consumption of bakery products and...
Tipo: Conference Paper or Presentation Palavras-chave: AIDS model; Elasticity; Healthy food; Household demand; United States; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety.
Ano: 2000 URL: http://purl.umn.edu/21857
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PRICE EXPECTATIONS AND SUPPLY RESPONSE IN THE THOROUGHBRED YEARLING MARKET AgEcon
Neibergs, J. Shannon; Thalheimer, Richard.
Limited information is available concerning price determination in the thoroughbred yearling market. A recursive model incorporating price expectations and biological constraints is used to estimate supply and demand functions for thoroughbred horses. Empirical results characterize a market with inelastic supply and elastic demand that converges to equilibrium under static conditions. Purses were identified as the most influential variable impacting price. Comparative statics illustrate the effectiveness of purses as a policy instrument for the thoroughbred industry. Federal tax policy also was found to have a significant impact on the decisions to breed or invest in thoroughbred yearlings.
Tipo: Journal Article Palavras-chave: Elasticity; Parimutual horse racing; Price determination; Price flexibility; Purses; Thoroughbred; Yearling; Demand and Price Analysis; Livestock Production/Industries.
Ano: 1997 URL: http://purl.umn.edu/15061
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U.S. Dairy Industry Supply Control: Managing the Cooperatives Working Together Program AgEcon
Siebert, John W.; Lyford, Conrad P..
This teaching note is intended as a guide for classroom use of the case, “U.S. Dairy Industry Supply Control: Managing the Cooperatives Working Together Program.” Some of the teaching objectives of this case are to: (1) evaluate the benefits from an industry supply control effort; (2) understand the problems and causes of oversupply in a commodity industry; and (3) learn about price equilibrium. Teachers using this note can present a dynamic analysis using the cobweb theorem. Also, teachers can compare and contrast the welfare impact of funding supply control versus the welfare impact of funding commodity promotion.
Tipo: Journal Article Palavras-chave: Livestock Production/Industries; Teaching/Communication/Extension/Profession; CWT; Dairy; Elasticity; Milk; Supply Control.
Ano: 2009 URL: http://purl.umn.edu/51711
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The demand for alcohol: a meta-analysis of elasticities AgEcon
Gallet, Craig A..
Numerous studies have estimated elasticities of alcohol demand using different procedures. Because of widespread differences in demand estimates, however, it is difficult to synthesise the literature into coherent meaning. This study improves our understanding of alcohol demand by reporting results from a meta-analysis of 132 studies. Specifically, regressing estimated price, income and advertising elasticities of alcohol on variables accounting for study characteristics, we find alcohol elasticities to be particularly sensitive to demand specification, data issues and various estimation methods. Furthermore, compared to other alcoholic beverages, beer elasticities tend to be more inelastic.
Tipo: Journal Article Palavras-chave: Alcohol demand; Elasticity; Meta-analysis; Demand and Price Analysis.
Ano: 2007 URL: http://purl.umn.edu/118323
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INTERNATIONAL EVIDENCE ON FOOD CONSUMPTION PATTERNS AgEcon
Seale, James L., Jr.; Regmi, Anita; Bernstein, Jason.
The analysis presented here suggests that low-, middle-, and high-income countries all respond differently to changes in income and food prices and, furthermore that low-income countries are more responsive than high-income countries to such changes. These conclusions are based on a two-stage, cross-country demand system fit to the 1996 International Comparison Project (ICP) data for nine broad categories and eight food sub-categories of goods across 114 countries. The broad consumption groups include: food, beverage, and tobacco; clothing and footwear; education; gross rent, fuel, and power; house furnishings and operations; medical care; recreation; transport and communications; and other items. The food sub-groups include bread and cereals, meat, fish,...
Tipo: Report Palavras-chave: Consumption; Cross-country demand; Complete demand system; Food demand; Elasticity; Heteroskedasticity; Maximum likelihood; Food Consumption/Nutrition/Food Safety.
Ano: 2003 URL: http://purl.umn.edu/33580
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Price sensitivity within and across retail formats AgEcon
Widenhorn, Andreas; Salhofer, Klaus.
Paper removed at the request of the first author, October 2013.
Tipo: Presentation Palavras-chave: Demand; Elasticity; Discount; Retail formats; International Relations/Trade; D12.
Ano: 2012 URL: http://purl.umn.edu/124108
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Interfuel Substitution: A Meta-Analysis AgEcon
Stern, David I..
Interfuel substitutability has been of longstanding interest to energy economists and policy makers. However, there has been no quantitative meta-analysis of this literature. This research report fills this gap by analysing a broad sample of studies of interfuel substitution in the industrial sector, manufacturing industry or sub-industries, and macro-economy of a variety of developed and developing economies. The primary study sample size has been included in the meta-regression to control for publication bias. At the industrial level, results for the shadow elasticities of substitution between coal, oil, gas, and electricity for forty-six primary studies show that, except for gas-electricity and coal-electricity, there are easy substitution...
Tipo: Report Palavras-chave: Meta-analysis; Energy; Substitution; Elasticity; Interfuel; Environmental Economics and Policy; Resource /Energy Economics and Policy; D24; Q40.
Ano: 2009 URL: http://purl.umn.edu/94882
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Derived Demand for Cattle Feeding Inputs AgEcon
Mathews, Kenneth H., Jr.; Arnade, Carlos Anthony; Jones, Keithly G..
Derived demand relationships among four weight categories of feeder cattle entering Texas feedlots and their feed consumed are examined using a generalized McFadden dual cost function. Results demonstrate systematic differences in demand relationships among different weight categories. Positive cross-price elasticities among the three heaviest weight categories are consistent with input substitution among weight categories and consistent with objective functions associated with optimal placement weight. Anomalies in the form of negative cross-price elasticities between weight categories provide evidence for an alternative objective function associated with longer term feeding of light-weight feeder cattle. Results also demonstrate seasonality differences...
Tipo: Journal Article Palavras-chave: Cattle feeding; Derived demand; Elasticity; Feeder cattle; Generalized McFadden cost function; Agribusiness; Demand and Price Analysis; Livestock Production/Industries.
Ano: 2008 URL: http://purl.umn.edu/90552
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Analysing Wine Demand With Artificial Neural Networks AgEcon
Gerolimetto, M.; Mauracher, Christine; Procidano, I..
In this paper we analyse wine demand in Italy using microdata. Instead of estimating a traditional parametric model (like AIDS) we employed artificial neural networks (ANN) and evaluate the elasticities using two different methods, specific for the non parametric framework. We compared the performances of the two methods to estimate elasticities and put in evidence the relevance of some demographic variables together with the usual economic ones, explaining the consumer's behaviour.
Tipo: Conference Paper or Presentation Palavras-chave: Artificial neural networks; Demand analysis; Wine; Elasticity; Demand and Price Analysis; C14; C21; Q11; Q13.
Ano: 2005 URL: http://purl.umn.edu/24753
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Building aggregate timber supply models from individual harvest choice AgEcon
Polyakov, Maksym; Wear, David N.; Huggett, Robert.
Timber supply has traditionally been modelled using aggregate data. In this paper, we build aggregate supply models for four roundwood products for the US state of North Carolina from a stand-level harvest choice model applied to detailed forest inventory. The simulated elasticities of pulpwood supply are much lower than reported by previous studies. Cross price elasticities indicate a dominant influence of sawtimber markets on pulpwood supply. This approach allows predicting the supply consequences of exogenous factors and supports regular updating of supply models.
Tipo: Conference Paper or Presentation Palavras-chave: Timber supply; Harvest choice; Conditional logit; Elasticity; Expectations; Simulation..
Ano: 2009 URL: http://purl.umn.edu/48168
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ESTIMATING THE IMPORTANCE OF SHELF SPACE CONFIGURATION ON RETAILER'S PROFIT AgEcon
Roucan-Kane, Maud; Martens, Bobby J.; Preckel, Paul V..
Retail shelf space allocation remains a central issue in grocery retailing. A literature review produced many studies on retail shelf space allocation, but none which evaluated shelf space allocation using three major factors at once: space, vertical height, and price. In this study, shelf space allocation was modeled from the perspective of a retailer maximizing profit using space, vertical height, and price. Using benchmarking, the results show how shelf configuration affects consumer demand and retailer profit. Parameters for the model were based on experience-based intuition. Although the initial results are not valuable at this point, the method and results create a rationale and motivation to gather primary data. Once primary data is collected, this...
Tipo: Working or Discussion Paper Palavras-chave: Shelf space allocation; Retail; Optimization; Grocery; Elasticity; GAMS; Ketchup; Marketing; C61; L81.
Ano: 2007 URL: http://purl.umn.edu/7330
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The Effect of Technological Change on Demand and Supply of Hired Farm Workers in the United States AgEcon
Mishra, Ashok K.; Rezitis, Anthony N..
This paper investigates the effect of technological change on the demand for, and supply of, hired farm workers in the United States for the period 1950 to 1992. Particular attention is given to the proxy for technological change. We have used total expenditures, both by public and private sectors, for research and development in the field of agriculture. We find that technology has a negative impact on the hired labor demand after the second and third year of initial investment. Our results show that technology is labor saving. The demand and supply elasticities were found to differ from other studies. We also derive elasticities of adjustment and draw some policy conclusions. The paper also presents a dynamic-in-period simulation of the estimated model.
Tipo: Journal Article Palavras-chave: Elasticity; Hired workers; Technological change; Total expenditures; Agribusiness; Labor and Human Capital.
Ano: 1998 URL: http://purl.umn.edu/90432
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ECONOMIC AND ENVIRONMENTAL IMPACTS OF THE POST-1992 CAP REFORMS ON ALENTEJO ECONOMY OF PORTUGAL AgEcon
Serrao, Amilcar.
This research develops 'Johansen-type' models of agriculture and constructs Input-Output models for assessing the impact of the post-1992 CAP reforms on incomes, employment and the environment in four Alentejo study areas of Portugal. The effects of agricultural output changes on businesses supplying inputs and processing farm output were also assessed by those empirical models.
Tipo: Conference Paper or Presentation Palavras-chave: Common Agricultural Policy; Johansen Model; Input-Output Model; Elasticity; Multiplier and Environmental Indicators; Agricultural and Food Policy; Demand and Price Analysis; Research Methods/ Statistical Methods.
Ano: 1998 URL: http://purl.umn.edu/21020
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Italian Consumption of Wild and Farmed Fish: Demand and Elasticity Estimation AgEcon
Gerolimetto, M.; Mauracher, Christine; Procidano, I..
In this paper, we present an analysis of farmed and wild fish in Italy using microdot. Instead of estimating a traditional parametric model such as AIDS, we employ Artificial Neural Networks (ANNs) and evaluate elasticities using a method specific of the non-parametric framework. As input variables, we consider not only the traditional economic factors but also some socio-demographic ones.
Tipo: Conference Paper or Presentation Palavras-chave: Aquaculture; Artificial Neural Networks; Demand curve; Elasticity; Fish consumption; Food Consumption/Nutrition/Food Safety; Livestock Production/Industries; C14; C21; Q11; Q13.
Ano: 2005 URL: http://purl.umn.edu/56076
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How does it work for Hungarian food consumers? A medium-term analysis AgEcon
Szigeti, Judith; Podruzsik, Szilard.
The accession of Hungary to the European Union (EU) in 2004 was expected to lead to price convergence to the EU levels. The influence of national and EU policies on Hungarian producers and consumers is important as they were facing a new situation. Consumers’ welfare depends on the constantly altering world- and common market, and political actions. The purpose of this study is to analyse welfare changes and distributional impacts on Hungarian food consumers. The paper focuses on Laspeyres index, compensating variation and elasticities of demand.
Tipo: Journal Article Palavras-chave: Food consumption; Consumer welfare; Compensating variation; Price change; Elasticity; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Research Methods/ Statistical Methods.
Ano: 2011 URL: http://purl.umn.edu/102400
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Changes in Import Demand Elasticity for Red Meat and Livestock: Measuring the Impacts of Animal Disease and Trade Policy AgEcon
Susanto, Dwi; Rosson, C. Parr, III; Henneberry, Shida Rastegari.
This paper estimates import demand functions for red meat and live cattle and investigates the impact of BSE and the trade ban on Canadian Cattle and beef on U.S. import demand elasticity using an error correction model (ECM). The results show that beef, pork, and live cattle were price inelastic prior to the BSE case. There has been statistical evidence of the effect of BSE and the trade bans on import demand elasticity in favor of more elastic demand. The effect is, however, quite small in absolute values for pork and beef imports and is relatively more elastic for live cattle. But the import demand elasticities of the three products are still inelastic. The use of ECM model provides efficient and robust estimates of the parameters.
Tipo: Conference Paper or Presentation Palavras-chave: BSE; Elasticity; Import demand; Red meat and live cattle; Trade bans; International Relations/Trade; Livestock Production/Industries.
Ano: 2008 URL: http://purl.umn.edu/6337
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Socially Optimal Taxation of Alcohol: The Case of Czech Beer AgEcon
Janda, Karel; Mikolasek, Jakub; Netuka, Martin.
The proposed paper belongs to the literature on food demand and optimal taxation and to the literature dealing with economics of alcohol production and consumption. We investigate the question of optimal taxation for the commodity whose consumption has positive and negative features both for individual consumer and for the society. The commodity we analyze is the Czech beer.
Tipo: Conference Paper or Presentation Palavras-chave: Almost Ideal Demand System; Alcohol; Beer; Brewing industry; Consumption; The Czech Republic; Elasticity; Price; Spirits; Tax; Wine.; Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis; Health Economics and Policy; Public Economics; D12; L66; Q18.
Ano: 2010 URL: http://purl.umn.edu/61464
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A Review of Agricultural Policy Evolution, Agricultural Data Sources, and Food Supply and Demand Studies in Egypt AgEcon
Soliman, Ibrahim; Fabiosa, Jacinto F.; Bassiony, Halah.
Over the years the control of the Government of Egypt on the agricultural sector has increasingly weakened with the progressive elimination of the input subsidy, area control, price control, procurement control, and the constraints in private sector participation in processing and trade. The only remaining major government involvement is the food subsidy in some wheat products, the “baladi” bread subsidy in particular. Policy analysis studies in Egypt have been made possible because the Government of Egypt collects and publishes significant amounts of agricultural data on a regular basis. Two of the most widely used data sets are the Household Budget Survey conducted and published by the Central Agency for Public Mobilization and Statistics, and the Food...
Tipo: Working or Discussion Paper Palavras-chave: Agricultural data; Agricultural policy; Egypt; Elasticity; Supply and demand.; Agricultural and Food Policy; Demand and Price Analysis.
Ano: 2010 URL: http://purl.umn.edu/59510
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A Stochastic Production Investigation of Fish Farms in Ghana AgEcon
Onumah, Edward E.; Acquah, H. de-Graft.
This paper considers the stochastic production frontier approach to analyse the technical efficiency and its determinants of fish farms in Ghana using a cross-section data of 150 farms. It considers the explicit effects of family and hired labour on production by setting the log-value of the zero-observation of these two sources of labour to zero with dummy variables. Results demonstrate that expected elasticities of mean output with respect to all input variables are positive and significant. Findings also show that family and hired labour used for fish farming in Ghana may be equally productive. Fish farms in Ghana are revealed to be characterised by technology with increasing return to scale. The combined effects of operational and farm specific factors...
Tipo: Journal Article Palavras-chave: Technical efficiency; Stochastic frontier; Elasticity; Return to scale; Farm Management; Productivity Analysis; GA; IN.
Ano: 2011 URL: http://purl.umn.edu/109738
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