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The Nested PIGLOG Model: An Application to U.S. Food Demand

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  • Nicholas E. Piggott
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    Abstract

    A new demand system is introduced, the Nested PIGLOG model, nesting thirteen other demand systems including five that are also new. This new model and its nested special cases are applied to models of U.S. food demand that include food-at-home (FAH), food-away-from-home (FAFH), and alcoholic beverages. Although nested tests and out-of-sample forecasting performance favor generalizing models to a certain degree, statistically insignificant improvements to in-sample-fit and even poorer out-of-sample forecast accuracy undermine further generalizations. Based on a subset of preferred models, FAFH is found to be price and income elastic compared to FAH which is price and income inelastic. Copyright 2003, Oxford University Press.

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    File URL: http://hdl.handle.net/10.1111/1467-8276.00099
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    Bibliographic Info

    Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

    Volume (Year): 85 (2003)
    Issue (Month): 1 ()
    Pages: 1-15

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    Handle: RePEc:oup:ajagec:v:85:y:2003:i:1:p:1-15

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    Cited by:
    1. Jeannette Wicks-Lim & Jeffrey Thompson, 2010. "Combining Minimum Wage and Earned Income Tax Credit Policies to Guarantee a Decent Living Standard to All U.S. Workers," Published Studies peri_mw_eitc_oct2010, Political Economy Research Institute, University of Massachusetts at Amherst.
    2. Vickner, Steven S., 2005. "Estimating the Impact of Voluntary Labeling of Trans Fats on the Market Demand for Processed Foods: A Nested PIGLOG Model Approach," 2005 Annual meeting, July 24-27, Providence, RI 19342, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Anderson, Michael L. & Matsa, David A., 2008. "Are restuarants really supersizing America?," CUDARE Working Paper Series 1056R4, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy, revised Jul 2010.
    4. David O. Meltzer & Zhuo Chen, 2011. "The Impact of Minimum Wage Rates on Body Weight in the United States," NBER Chapters, in: Economic Aspects of Obesity, pages 17-34 National Bureau of Economic Research, Inc.
    5. Okrent, Abigail M. & Alston, Julian M., 2011. "Demand for Food in the United States: A Review of Literature, Evaluation of Previous Estimates, and Presentation of New Estimates of Demand," Working Papers 162515, Robert Mondavi Institute Center for Wine Economics.
    6. Vickner, Steven S. & Bailey, DeeVon & Dustin, Al, 2006. "Estimating the Market Demand for Value-Added Beef: Testing for BSE Announcement Effects Using a Nested PIGLOG Model Approach," 2006 Annual meeting, July 23-26, Long Beach, CA 21209, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Okrent, Abigail M. & Alston, Julian M., 2012. "The Demand for Disaggregated Food-Away-from-Home and Food-at-Home Products in the United States," Economic Research Report 132469, United States Department of Agriculture, Economic Research Service.
    8. Tonsor, Glynn T. & Kastens, Terry L., 2006. "How Much Do Starting Values Really Matter? An Empirical Comparison of Genetic Algorithm and Traditional Approaches," 2006 Annual meeting, July 23-26, Long Beach, CA 21252, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Pritchett, James G. & Johnson, Kamina K. & Thilmany, Dawn D. & Hahn, William F., 2007. "Consumer Responses to Recent BSE Events," Journal of Food Distribution Research, Food Distribution Research Society, vol. 38(2), July.
    10. Liu, Kang Ernest, 2006. "A Quadratic Generalization of the Almost Ideal and Translog Demand Systems: An Application to Food Demand in Urban China," 2006 Annual meeting, July 23-26, Long Beach, CA 21387, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    11. Marsh, Thomas L. & Piggott, Nicholas E., 2013. "Measuring Pre-Commited Quantities Through Consumer Price Formation," 2013 Conference (57th), February 5-8, 2013, Sydney, Australia 152165, Australian Agricultural and Resource Economics Society.
    12. Cranfield, John A.L., 2005. "Demands for Food Products Across the Development Spectrum: Application of a Rank Four Demand System," Working Papers 34111, University of Guelph, Department of Food, Agricultural and Resource Economics.
    13. Johnson, Rutherford & Vickner, Steven S. & Pagoulatos, Angelos & Debertin, David L., 2006. "Health Media Coverage and Consumer Choice: A Panel Data Econometric Analysis of the Domestic Cracker Market," 2006 Annual meeting, July 23-26, Long Beach, CA 21110, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    14. Zhuang, Renan & Abbott, Philip, 2007. "Price elasticities of key agricultural commodities in China," China Economic Review, Elsevier, vol. 18(2), pages 155-169.
    15. Tonsor, Glynn T. & Marsh, Thomas L., 2005. "Comparing Heterogeneous Consumption in US and Japanese Meat and Fish Demand," 2005 Annual meeting, July 24-27, Providence, RI 19567, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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