Substitution Between Wools Of Different Fibre Diameter
AbstractThe extent to which wools with different fibre characteristics can be substituted in textile production and consumption holds implications for Australia's international and domestic marketing policies. An analysis of price-induced substitution between Australian wools of different fibre diameters was conducted. Fibre diameter was used to parameterise cross-price relationships in order to estimate a system of demand equations for wools by diameter class. The results indicate that direct substitution takes place within a very limited range of fibre diameters. The use of product characteristics to parameterise price relationships may be extended to other graded commodities.
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Bibliographic InfoArticle provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural Economics.
Volume (Year): 34 (1990)
Issue (Month): 01 (April)
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Economics Discussion / Working Papers
04-24, The University of Western Australia, Department of Economics.
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- Verikios, George, 2009.
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- George Verikios, 2007. "Modelling the World Wool Market: A Hybrid Approach," Economics Discussion / Working Papers 07-18, The University of Western Australia, Department of Economics.
- Templeton, Deborah J. & Griffith, Garry R. & Piggott, Roley R. & O'Donnell, Christopher J., 2004. "Measuring the Impact of Staple Strength-Enhancing Technologies on Australian Wool Producer Profits: A Duality-Based Approach," Working Papers 12922, University of New England, School of Economics.
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