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An Examination of Inverse Demand Models: An Application to the U. S. Crawfish Industry

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  • Lee, Youngjae
  • Kennedy, P. Lynn

Abstract

This study analyzes quantity impacts of imported crawfish tailmeat on Louisiana crawfish tailmeat prices, and demonstrates the statistical validity and proper interpretation of cross substitution within inverse demand systems. Among five inverse demand systems, the Differential Inverse National Bureau of Research (DINBR) model shows no violation of econometric assumptions for the data analyzed. By using Allais coefficients proposed by Barten and Bettendorf (1989), we show substitutability among the five fish species.

Suggested Citation

  • Lee, Youngjae & Kennedy, P. Lynn, 2008. "An Examination of Inverse Demand Models: An Application to the U. S. Crawfish Industry," Agricultural and Resource Economics Review, Cambridge University Press, vol. 37(2), pages 243-256, October.
    • Handle: RePEc:cup:agrerw:v:37:y:2008:i:02:p:243-256_00
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    Cited by:

    1. Lee, Young-Jae & Kennedy, P. Lynn, 2013. "Quantity And Exchange Rate Effects On U.S. Trout Prices," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 142133, Southern Agricultural Economics Association.
    2. Huang, Pei, 2014. "An Inverse Demand System for Blue Crab in the Chesapeake Bay: Endogeneity and Seasonality," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 169827, Agricultural and Applied Economics Association.
    3. Eric Sjöberg, 2015. "Pricing on the Fish Market--Does Size Matter?," Marine Resource Economics, University of Chicago Press, vol. 30(3), pages 277-296.
    4. Lee, Young-Jae & Kennedy, P. Lynn & Hilbun, Brian M., 2010. "A Demand System Analysis of the U.S. Trout Market," 2010 Annual Meeting, February 6-9, 2010, Orlando, Florida 56414, Southern Agricultural Economics Association.
    5. Sooriyakumar Krishnapillai & Sarujan Sathiyamoorthy & Anushiya Sireeranhan, 2020. "Impact of Milk Powder Imports on Local Milk Industry and Consumers Welfare in Sri Lanka," International Journal of Economics and Financial Issues, Econjournals, vol. 10(5), pages 165-170.
    6. Kehar Singh & Madan M. Dey & Prasanna Surathkal, 2014. "Seasonal and Spatial Variations in Demand for and Elasticities of Fish Products in the United States: An Analysis Based on Market-Level Scanner Data," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 62(3), pages 343-363, September.
    7. Hanson, Terrill R. & Nguyen, Giap V., 2013. "Supermarket Sales of Crawfish and Competing Crustacean Products," Journal of Food Distribution Research, Food Distribution Research Society, vol. 44(1), pages 1-10, March.
    8. Roheim, Cathy A. & Zhang, Dengjun, 2018. "Sustainability certification and product substitutability: Evidence from the seafood market," Food Policy, Elsevier, vol. 79(C), pages 92-100.

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