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IMPORT DEMAND SYSTEM ANALYSIS OF THE SOUTH KOREAN WINE MARKET WITH THE SOURCE DIFFERENTATED AIDS MODEL AgEcon
Lee, Young-Jae; Kennedy, P. Lynn; Hilbun, Brian M..
Under the assumption of block substitutability and partial aggregation, a source differentiated AIDS model was used to estimate South Korean wine import demand. Empirical results indicate that South Korean wine consumers have a strong preference for high quality French wines. French wines are shown to be substitutes for wines from other countries in the South Korean wine market. Since the implementation of a free trade agreement between South Korea and Chile, Chilean wines have steadily increased their market share exhibiting strong price competitiveness in the South Korean wine market.
Tipo: Conference Paper or Presentation Palavras-chave: Wine; AIDS; Block substitutability; Import demand; Demand and Price Analysis.
Ano: 2008 URL: http://purl.umn.edu/6345
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