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Registros recuperados: 9
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Commodity Price Pass-Through in Differentiated Retail Food Markets AgEcon
Richards, Timothy J.; Allender, William J.; Pofahl, Geoffrey M..
Prices for nearly all basic commodity rose at unprecedented rates throughout early 2008, only to fall nearly as fast as financial markets and global economies began to collapse. Rising food prices in 2008 led to concerns that commodity price spikes would lead to more general food inflation, but by early 2009 interest focused more on the seeming inability of food prices to fall back down with commodity prices. This study provides an empirical investigation into the pass-through of commodity prices to retail prices for two different types of food products: potatoes and fluid milk. The results show that pass-through depends on the nature of the food in question, but is generally consistent with theoretical models of pricing by sellers of multiple,...
Tipo: Conference Paper or Presentation Palavras-chave: Commodity prices; Conduct; Industrial organization; Inflation; Market power; Nested logit; Pass-through; Random parameters model; Consumer/Household Economics; Demand and Price Analysis; Industrial Organization; C35; D12; D43; L13; L41; Q13.
Ano: 2010 URL: http://purl.umn.edu/61187
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Demand for Non-Alcoholic Beverages: Evidence From The ACNielsen Home Scan Panel AgEcon
Pofahl, Geoffrey M.; Capps, Oral, Jr.; Clauson, Annette L..
Using the ACNielsen HomeScan Panel over the period 1998 to 2001 as the source of data, we entertain various demand systems, namely, the LA/AIDS, the AIDS, and the QUAIDS to investigate the demand for eight non-alcoholic beverages. Own-price, cross-price, and expenditure elasticities are obtained by year and by demand system for milk, bottled water, carbonated soft drinks, powdered soft drinks, coffee, tea, fruit juices and drinks, and isotonics. Emphasis is placed on the magnitude of price sensitivity of households toward non-alcoholic beverages as well as on substitution and complementary patterns. This work provides a more current and more thorough analysis associated with the non-alcoholic beverage industry than previously reported in the literature.
Tipo: Conference Paper or Presentation Palavras-chave: Demand and Price Analysis.
Ano: 2005 URL: http://purl.umn.edu/19441
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Evaluating the Unilateral Price and Variety Effects of Horizontal Mergers AgEcon
Pofahl, Geoffrey M.; Carlson, Jared.
Tipo: Conference Paper or Presentation Palavras-chave: Industrial Organization.
Ano: 2010 URL: http://purl.umn.edu/62014
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OBESITY AND HYPERBOLIC DISCOUNTING: AN EXPERIMENTAL ANALYSIS AgEcon
Richards, Timothy J.; Hamilton, Stephen F.; Pofahl, Geoffrey M..
Behavioral economists maintain that addictions such as alcoholism, smoking and over-eating represent examples of present-bias in decision making that is fundamentally irrational. In this article, we develop a model of present bias and apparently hyperbolic discounting that is fully consistent with rational behavior. We construct an experiment to test our hypothesis and to determine whether discount rates differ for individuals who engage in behaviors that could endanger their health. Our results show that discount functions are quasi-hyperbolic in shape, and that obesity and drinking are positively related to the discount rate. Anti-obesity policy, therefore, would be best directed to informing individuals as to the long-term implications of short-term...
Tipo: Conference Paper or Presentation Palavras-chave: Addiction; Discounting; Experiments; Hyperbolic; Obesity; Time-inconsistency; Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Food Security and Poverty; Health Economics and Policy; C91; D12; D91; I18.
Ano: 2010 URL: http://purl.umn.edu/116410
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Obesity and Hyperbolic Discounting: An Experimental Analysis AgEcon
Richards, Timothy J.; Hamilton, Stephen F.; Pofahl, Geoffrey M..
Behavioral economists maintain that addictions such as alcoholism, smoking and over-eating represent examples of present-bias in decision making that is fundamentally irrational. In this article, we develop a model of present bias and apparently hyperbolic discounting that is fully consistent with rational behavior. We construct an experiment to test our hypothesis and to determine whether discount rates differ for individuals who engage in behaviors that could endanger their health. Our results show that discount functions are quasi-hyperbolic in shape, and that obesity and drinking are positively related to the discount rate. Anti-obesity policy, therefore, would be best directed to informing individuals as to the long-term implications of short-term...
Tipo: Conference Paper or Presentation Palavras-chave: Addiction; Discounting; Experiments; Hyperbolic; Obesity; Time-inconsistency.; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Health Economics and Policy; Institutional and Behavioral Economics; C91; D12; D91; I18..
Ano: 2010 URL: http://purl.umn.edu/61186
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Pricing Power by Supermarket Retailers: A Ghost in the Machine? AgEcon
Richards, Timothy J.; Pofahl, Geoffrey M..
Tipo: Journal Article Palavras-chave: Agribusiness; L13; L66; Q13.
Ano: 2010 URL: http://purl.umn.edu/94764
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Supply Channel Stage-Games and Horizontal Merger Simulation in the Refrigerated Orange Juice Industry AgEcon
Pofahl, Geoffrey M..
This paper seeks to explore the implementation of more realistic supply channel interactions in merger simulation. In particular, a two-stage pricing game is used to conduct merger simulations in the refrigerated orange juice category. The major finding is that practical use of stage-game modeling in merger simulation will not be possible until the relationship between demand specification and retail pass-through rates is better understood.
Tipo: Conference Paper or Presentation Palavras-chave: Agribusiness.
Ano: 2007 URL: http://purl.umn.edu/9915
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Valuation of New Products in the Face of Consumer Income Disparity AgEcon
Pofahl, Geoffrey M.; Richards, Timothy J.; Tonsor, Glynn T..
The objective of this research is to begin exploring the welfare effects of new food product introductions and to determine whether such effects vary depending on the income classification of the customer base to which the products are introduced. In other words, when new products are introduced to both high- and low-income markets, is there a significant difference in estimated welfare effects that can be attributed to differences in consumer-base income levels? In an application involving new bottled juice introductions, we do, in fact, find notable differences in welfare effects accruing to different income-class cohorts. Our results provide important evidence of the need for an even greater understanding of new product welfare effects and how these...
Tipo: Conference Paper or Presentation Palavras-chave: Compensating variation; Differentiated products; Distance metrics; New product valuation; Retailing; Consumer/Household Economics.
Ano: 2009 URL: http://purl.umn.edu/49571
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What is a Beverage Worth? Arbitrage Pricing and the Value of New Products: An Attribute-Space Approach AgEcon
Pofahl, Geoffrey M..
We empirically estimate the valuation of new carbonated soft drink products within a model of market value maximization. We show that equity value is an important consideration in the firm decision to differentiate or imitate in new product introductions. Our results indicate that differentiation is a marginally better strategy for new product introductions as opposed to imitation of existing products. This finding is quite logical given the already high levels of imitative competition existing in the carbonated soft drink category.
Tipo: Conference Paper or Presentation Palavras-chave: Demand and Price Analysis; Marketing.
Ano: 2008 URL: http://purl.umn.edu/6257
Registros recuperados: 9
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