Verifying Timing and Frequency of Revealed Preference Violations and Application to the BSE Outbreak in Japan
Abstract"This paper proposes a method to differentiate a socioeconomic shock from other transitory shocks in the revealed preference test by verifying the timing and frequency of the demand shifts. If frequency of the revealed preference violations is substantially high in a period that is synchronized with the timing of a socioeconomic shock, it suggests that changes in the demand patterns are because of the socioeconomic shock. Specifically, this paper splits the entire sample into several subperiods and compares the expected probability and realized probability of noting observations involved in the shifts. The method is applied to the Japanese and South Korean meat import demand related to the bovine spongiform encephalopathy (BSE) outbreak in Japan. Empirical results show that there are excess violations after September 2001 in the Japanese data but not in the South Korean data, suggesting that the BSE event has influenced Japanese meat import demand, but not South Korean meat import demand." Copyright 2006 Canadian Agricultural Economics Society.
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Bibliographic InfoArticle provided by Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie in its journal Canadian Journal of Agricultural Economics.
Volume (Year): 54 (2006)
Issue (Month): 1 (03)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0008-3976
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- Jin, Hyun Joung, 2008. "Changes in South Korean consumers' preferences for meat," Food Policy, Elsevier, vol. 33(1), pages 74-84, February.
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