A Random Coefficient Meat Demand Model
AbstractThe stability of the US consumer demand for meat has been a popular topic for journal articles I show that econometric models imply that demand is fundamentally unstable. A good way to build taste instability into econometric demand equations is to specify them as random coefficient models. I estimate a random coefficient model of meat demand and find significant evidence that taste instability has caused fluctuations in the elasticities of demand for beef, pork, chicken, and turkey.
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Bibliographic InfoArticle provided by United States Department of Agriculture, Economic Research Service in its journal Journal of Agricultural Economics Research.
Volume (Year): (1994)
Issue (Month): 3 ()
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random coefficients; demand systems; meat demand; taste stability; Demand and Price Analysis;
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- Olivia, Susan & Gibson, John, 2003. "Unit Value Biases in Meat Demand in Indonesia," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 58195, Australian Agricultural and Resource Economics Society.
- Davis, George C., 2001. "Confirmation And Falsification Of Equilibrium Displacement Models," 2001 Annual meeting, August 5-8, Chicago, IL 20525, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Olivia, Susan & Gibson, John, 2005. "Unit Value Biases in Price Elasticities of Demand for Meat in Indonesia," Australasian Agribusiness Review, University of Melbourne, Melbourne School of Land and Environment, vol. 13.
- Hahn, William F., 2001. "Maximum Likelihood Estimation Of A Random Coefficient Meat Demand System," 2001 Annual meeting, August 5-8, Chicago, IL 20573, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Hsu, Jane Lu, 2000. "Gradual Switching Structural Changes of Meat Consumption in Taiwan," 2000 Conference (44th), January 23-25, 2000, Sydney, Australia 123663, Australian Agricultural and Resource Economics Society.
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