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Consumer Price Formation with Demographic Translating

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  • Piggott, Nicholas E.
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    Abstract

    We investigate how to theoretically and empirically incorporate demographic translating in consumer distance functions. Consumer distance functions yield inverse demand systems that are of interest when attempting to better understand questions of price formation. Translating procedures are important when incorporating pre-committed quantities, pre-allocated factors, or demographic variables (e.g., advertising, health or food safety information) in the inverse demand system. Examples are included for illustrative purposes.

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    File URL: http://purl.umn.edu/25252
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    Bibliographic Info

    Paper provided by International Association of Agricultural Economists in its series 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia with number 25252.

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    Date of creation: 2006
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    Handle: RePEc:ags:iaae06:25252

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    Web page: http://www.iaae-agecon.org/
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    Keywords: Consumer/Household Economics;

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    1. Eales, James S. & Unnevehr, Laurian J., 1994. "The inverse almost ideal demand system," European Economic Review, Elsevier, vol. 38(1), pages 101-115, January.
    2. Nicholas E. Piggott & Thomas L. Marsh, 2004. "Does Food Safety Information Impact U.S. Meat Demand?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(1), pages 154-174.
    3. Lusk, Jayson L. & Schroeder, Ted C., 2000. "Effects Of Meat Recalls On Futures Market Prices," 2000 Conference, April 17-18 2000, Chicago, Illinois 18925, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    4. Pollak, Robert A & Wales, Terence J, 1981. "Demographic Variables in Demand Analysis," Econometrica, Econometric Society, vol. 49(6), pages 1533-51, November.
    5. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June.
    6. Holt, Matthew T & Goodwin, Barry K, 1997. "Generalized Habit Formation in an Inverse Almost Ideal Demand System: An Application to Meat Expenditures in the U.S," Empirical Economics, Springer, vol. 22(2), pages 293-320.
    7. Bollino, Carlo Andrea, 1987. "Gaids: a generalised version of the almost ideal demand system," Economics Letters, Elsevier, vol. 23(2), pages 199-202.
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    Cited by:
    1. Davis, Andrew & Gunderson, Michael A. & Brown, Mark G. & House, Lisa, 2008. "The Effect Demographics Have On The Demand For Orange Juice," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6794, Southern Agricultural Economics Association.

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