Welfare Measurement and Quality Product Differentiation in Agriculture: An Example from the EU 15 Beef Sector
AbstractThis paper examines the impact of two different model specifications on welfare estimations. A model specification that takes into account product differentiation is compared to a specification where the product differentiation is overlooked. The welfare comparison under both specifications show ambiguous results: the welfare under one specification may be larger or lower than the welfare under the alternative assumption. In order to illustrate our theoretical conclusions, we present an application to the EU15 beef market. We show that the welfare when the product differentiation is taken into account by the econometric estimation is lower than the welfare when the product differentiation is overlooked.
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Bibliographic InfoPaper provided by INRA, Economie Publique in its series Working Papers with number 2005/02.
Date of creation: 01 Feb 2005
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Product differentiation; Beef demand; European Union; Welfare;
Other versions of this item:
- Ramos, Maria Priscila & Drogue, Sophie & Marette, Stephan, 2005. "Welfare Measurement and Quality Product Differentiation in Agriculture: An Example From the EU15 Beef Sector," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24720, European Association of Agricultural Economists.
- D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
- F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
- F15 - International Economics - - Trade - - - Economic Integration
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"Monopolistic Competition and Optimum Product Diversity,"
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- Dixit, Avinash K & Stiglitz, Joseph E, 1975. "Monopolistic Competition and Optimum Product Diversity," The Warwick Economics Research Paper Series (TWERPS) 64, University of Warwick, Department of Economics.
- Krugman, Paul R., 1979. "Increasing returns, monopolistic competition, and international trade," Journal of International Economics, Elsevier, vol. 9(4), pages 469-479, November.
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