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Demand Elasticities from a Discrete Choice Model: The Natural Christmas Tree Market

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  • George C. Davis
  • Michael K. Wohlgenant

Abstract

A procedure is demonstrated for estimating market-level demand elasticities from household data suffering from sample selectivity problems. The procedure uses McFadden's nested multinomial logit model and is applied to the natural Christmas tree market. Results indicate that the own-price elasticity of natural Christmas trees is −0.674 and the cross price elasticity of natural Christmas trees with respect to artificial Christmas trees is 0.188. These are the first known demand elasticity estimates for the natural Christmas tree market.

Suggested Citation

  • George C. Davis & Michael K. Wohlgenant, 1993. "Demand Elasticities from a Discrete Choice Model: The Natural Christmas Tree Market," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(3), pages 730-738.
    • Handle: RePEc:oup:ajagec:v:75:y:1993:i:3:p:730-738.
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    File URL: http://hdl.handle.net/10.2307/1243580
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    Citations

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    Cited by:

    1. Laura Birg & Anna Goeddeke, 2016. "Christmas Economics—A Sleigh Ride," Economic Inquiry, Western Economic Association International, vol. 54(4), pages 1980-1984, October.
    2. Li, Jau-Rong, 1997. "A Selectivity Model of Household Pork Consumption Behavior in Taipei, Taiwan," 1997 Annual Meeting, July 13-16, 1997, Reno\ Sparks, Nevada 35819, Western Agricultural Economics Association.
    3. Carpio, Carlos E. & Wohlgenant, Michael K. & Boonsaeng, Tullaya, 2008. "The Demand for Agritourism in the United States," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(2), pages 1-16.
    4. Zaffou, Madiha & Campbell, Benjamin, 2017. "Willingness to Pay for Retail Location and Product Origin of Christmas Trees," Agricultural and Resource Economics Review, Cambridge University Press, vol. 46(3), pages 464-478, December.
    5. Richards, Timothy J., 2000. "The Impact Of Promotion And Advertising: A Latent Class Approach," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 32(3), pages 1-17, December.
    6. Osman GULSEVEN & Michael WOHLGENANT, 2017. "What are the factors affecting the consumers' milk choices?," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 63(6), pages 271-282.
    7. Carpio, Carlos E. & Wohlgenant, Michael K., 2006. "A Structural Econometric Model of Consumer Demand at Pick-Your-Own Fruit Operations," 2006 Annual meeting, July 23-26, Long Beach, CA 21372, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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