Household Demand For Finfish: A Generalized Double-Hurdle Model
AbstractThis study estimates household demand for finfish in the United States using a limited dependent variable model that accounts for both participation and consumption decisions and also accommodates nonnormal heteroskedastic errors. Results suggest that own-price elasticity is near unitary and income elasticity is small. Price of finfish, shopping frequency, Northeast, Black and other non-Whites, and the life-cycle variable Â“"young, single, no childrenÂ”" are they key factors that affect significantly both the probability of participation and the level of finfish consumption. Furthermore, a variable may exert opposite effects on the probability and level of consumption.
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Bibliographic InfoArticle provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.
Volume (Year): 21 (1996)
Issue (Month): 02 (December)
Consumer/Household Economics; Demand and Price Analysis;
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