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Demand System Analysis of the South Korean Beef Market with the Free Trade Demand Model

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  • Lee, Young-Jae
  • Kennedy, P. Lynn
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    Abstract

    In this study a demand system analysis for beef in South Korea is constructed. A free trade demand system was used in which the economic welfare of market participants are maximized. Recognizing implicit discrimination about non-locally sourced beef products, this study deduces market demand equations with respect to consumer preference in order to identify the marginal effect of change consumer preference has on market demand.

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    File URL: http://purl.umn.edu/6825
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    Bibliographic Info

    Paper provided by Southern Agricultural Economics Association in its series 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas with number 6825.

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    Date of creation: 2008
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    Handle: RePEc:ags:saeaed:6825

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    Related research

    Keywords: Demand and Price Analysis; International Relations/Trade; Research Methods/ Statistical Methods;

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    1. McGuirk, Anya M. & Driscoll, Paul J. & Alwang, Jeffrey Roger & Huang, Huilin, 1995. "System Misspecification Testing And Structural Change In The Demand For Meats," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(01), July.
    2. John D. Jackson, 1997. "Effects of Health Information and Generic Advertising on U.S. Meat Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(1), pages 13-23.
    3. Mittelhammer, Ronald C. & Shi, Hongqi & Wahl, Thomas I., 1996. "Accounting For Aggregation Bias In Almost Ideal Demand Systems," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 21(02), December.
    4. Kinnucan, Henry W. & Chang, Hui-Shung (Christie) & Venkateswaran, Meenakshi, 1993. "Generic Advertising Wearout," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 61(03), December.
    5. Kuo S. Huang, 1996. "A Further Look at Flexibilities and Elasticities: Reply," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(4), pages 1130-1131.
    6. James Eales, 1996. "A Further Look at Flexibilities and Elasticities: Comment," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(4), pages 1125-1129.
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