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Elasticity Estimates of Farmed Salmon Demand in Spain and Italy

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  • Bjorndal, Trond
  • Salvanes, Kjell G
  • Gordon, Daniel V

Abstract

In this paper estimates of the elasticities that characterize the structure of demand for farmed salmon in Spain and Italy are reported. The demand models are specified using a Box-Cox transformation of the variables and a Hausman test is used to determine price endogeneity in the demand equations. The results show a short-run unitary own-price elasticity of demand for farmed salmon in both markets, but long-run estimates show significant elastic price response. Short-run substitution of salmon for other fish species is not observed and, for both Spain and Italy, farmed salmon is characterized as a luxury good. Interestingly, we show that our a priori expectations about own-price elasticities being lower in smaller market areas is confirmed. Finally, the results obtained are compared to other recent results reported in the salmon demand literature.

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Bibliographic Info

Article provided by Springer in its journal Empirical Economics.

Volume (Year): 19 (1994)
Issue (Month): 3 ()
Pages: 419-28

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Handle: RePEc:spr:empeco:v:19:y:1994:i:3:p:419-28

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Cited by:
  1. Lutter, Randall & Tucker, Katherine, 2003. "Unacknowledged Health Benefits Of Genetically Modified Food - Salmon And Heart Disease Deaths," Working paper 355, Regulation2point0.
  2. Fofana, Abdulai & Clayton, Patty, 2003. "Demand Interaction Between Farmed Salmon And Wild Caught Fish In The United Kingdom," Miscellaneous Papers 11828, Agecon Search.

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