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The FAST Method: Estimating Unconditional Demand Elasticities for Processed Foods in the Presence of Fixed Effects

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Author Info
Bergtold, Jason
Akobundu, Ebere
Peterson, Everett B.

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Abstract

This study estimates a set of unconditional own-price and expenditure elasticities across time for 49 processed food categories using scanner data and the FAST multi-stage demand system with fixed effects across time. Estimated own-price elasticities are generally much larger, in absolute terms, than previous estimates, while our expenditure elasticities are generally much lower. The use of disaggregated product groupings, scanner data, and the estimation of unconditional elasticities likely accounts for these differences. Results of the study suggest providing more disaggregate product-level demand elasticities could aid in the economic analysis of issues relating to industry competitiveness or the impact of public policy.

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Publisher Info
Article provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.

Volume (Year): 29 (2004)
Issue (Month): 02 (August)
Pages:
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Handle: RePEc:ags:jlaare:31108

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Related research
Keywords: demand elasticities; indirect separability; processed foods; Agribusiness;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Moschini, GianCarlo, 2001. "Flexible Multistage Demand System Based on Indirect Separability, A," Staff General Research Papers 1921, Iowa State University, Department of Economics. [Downloadable!]
    Other versions:
  2. Clarke, Roger & Davies, Stephen W, 1982. "Market Structure and Price-Cost Margins," Economica, London School of Economics and Political Science, vol. 49(195), pages 277-87, August. [Downloadable!] (restricted)
  3. Lamm, R McFall, Jr, 1982. "A System of Dynamic Demand Functions for Food," Applied Economics, Taylor and Francis Journals, vol. 14(4), pages 375-89, August.
  4. Varian, Hal R, 1982. "The Nonparametric Approach to Demand Analysis," Econometrica, Econometric Society, vol. 50(4), pages 945-73, July. [Downloadable!] (restricted)
  5. Brown, Mark G. & Lee, Jonq-Ying & Seale, James L., Jr., 1994. "Demand Relationships Among Juice Beverages: A Differential Demand System Approach," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 26(02), December. [Downloadable!]
  6. Gisser, Micha, 1986. "Price Leadership and Welfare Losses in U.S. Manufacturing," American Economic Review, American Economic Association, vol. 76(4), pages 756-67, September. [Downloadable!] (restricted)
  7. Marc-Arthur Diaye ; François Gardes ; Christophe Starzec, 2001. "The World According to GARP : Non-parametric Tests of Demand Theory and Rational Behavior," Working Papers 2001-27, Centre de Recherche en Economie et Statistique. [Downloadable!]
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  8. Sanjib Bhuyan & Rigoberto A. Lopez, 1998. "Oligopoly Power and Allocative Efficiency in US Food and Tobacco Industries," Journal of Agricultural Economics, Blackwell Publishing, vol. 49(3), pages 434-442. [Downloadable!] (restricted)
  9. Capps, Oral, Jr. & Lambregts, Johannes Adrianus, 1991. "Assessing Effects Of Prices And Advertising On Purchases Of Finfish And Shellfish In A Local Market In Texas," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 23(01), July. [Downloadable!]
  10. Huang, Kuo S. & Lin, Biing-Hwan, 2000. "Estimation Of Food Demand And Nutrient Elasticities From Household Survey Data," Technical Bulletins 33579, United States Department of Agriculture, Economic Research Service. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Chouinard, Hayley H. & Davis, David E. & Lafrance, Jeffrey T. & Perloff, Jeffrey M., 2006. "Milk Marketing Order Winners and Losers," 2006 Annual meeting, July 23-26, Long Beach, CA 21238, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
    Other versions:
  2. Bergtold, Jason & Peterson, Everett, 2005. "Introducing Asymmetric Separability in the FAST Multistage Demand System," 2005 Annual meeting, July 24-27, Providence, RI 19497, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
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This page was last updated on 2009-11-26.

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