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Estimating price and income elasticities in the presence of age-cohort effects

Author

Listed:
  • Hiroshi Mori

    (Senshu University, Tokyo, Japan)

  • Dennis L. Clason

    (Department of Economics and University Statistics Center, New Mexico State University, Las Cruces, NM 88003)

  • Jay M. Lillywhite

    (Department of Agricultural Economics and Agricultural Business, New Mexico State University, Las Cruces, NM 88003)

Abstract

Individual consumption of most food products varies by age, and in countries like Japan that have experienced drastic social and economic changes during the past several decades, it also differs from generation to generation. Unless proper measures are taken to account for these factors, estimates of demand elasticities could be severely biased. In this study, individual consumption of fresh fruit was derived from Japanese household data classified by age of household head for the years 1979-2001. Individual consumption was then decomposed by age, cohort, and period effects using Bayesian cohort analysis. Pure period effects thus determined were regressed against changes in price and income, to obtain less biased estimates for demand parameters than non- or partially age-compensated analysis. [Econlit citations: Q110]. © 2006 Wiley Periodicals, Inc. Agribusiness 22: 201-217, 2006.

Suggested Citation

  • Hiroshi Mori & Dennis L. Clason & Jay M. Lillywhite, 2006. "Estimating price and income elasticities in the presence of age-cohort effects," Agribusiness, John Wiley & Sons, Ltd., vol. 22(2), pages 201-217.
    • Handle: RePEc:wly:agribz:v:22:y:2006:i:2:p:201-217
    DOI: 10.1002/agr.20080
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    References listed on IDEAS

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    1. Eales, James S. & Roheim, Cathy A., 1999. "Testing Separability Of Japanese Demand For Meat And Fish Within Differential Demand Systems," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 24(1), pages 1-13, July.
    2. Dermot J. Hayes & Thomas I. Wahl & Gary W. Williams, 1990. "Testing Restrictions on a Model of Japanese Meat Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(3), pages 556-566.
    3. Blisard, Noel, 2001. "Income and Food Expenditures Decomposed by Cohort, Age, and Time Effects," Technical Bulletins 33552, United States Department of Agriculture, Economic Research Service.
    4. Blisard, Noel, 2001. "Income and Food Expenditures Decomposed by Cohort, Age, and Time Effects," Technical Bulletins 184328, United States Department of Agriculture, Economic Research Service.
    5. Tanaka, Masamitsu & Mori, Hiroshi & Inaba, Toshio, 2004. "Re-estimating per Capita Individual Consumption by Age from Household Data," Japanese Journal of Agricultural Economics (formerly Japanese Journal of Rural Economics), Agricultural Economics Society of Japan (AESJ), vol. 6, pages 1-11.
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    Cited by:

    1. Geir Gustavsen & Kyrre Rickertsen, 2014. "Consumer cohorts and purchases of nonalcoholic beverages," Empirical Economics, Springer, vol. 46(2), pages 427-449, March.
    2. Stewart, Hayden & Dong, Diansheng & Carlson, Andrea, 2012. "Is Generational Change Contributing to the Decline in Fluid Milk Consumption?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 37(3), pages 1-20.
    3. Stewart, Hayden & Dong, Diansheng & Carlson, Andrea, 2013. "Why Are Americans Consuming Less Fluid Milk? A Look at Generational Differences in Intake Frequency," Economic Research Report 262223, United States Department of Agriculture, Economic Research Service.
    4. Hiroshi Mori & Toshio Inaba & John Dyck, 2016. "Accounting for structural changes in demand for foods in the presence of age and cohort effects: the case of fresh fish in Japan," Evolutionary and Institutional Economics Review, Springer, vol. 13(2), pages 363-379, December.
    5. Hayden Stewart & Noel Blisard, 2008. "Are Younger Cohorts Demanding Less Fresh Vegetables?," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 30(1), pages 43-60.

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