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The Demand For Meat - An Example Of An Incomplete Commodity Demand System

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  • Fisher, Brian S.

Abstract

Equations describing the demand for beef and veal, mutton, lamb, pork and chicken are estimated using the full information maximum likelihood estimator. Elasticity estimates are presented and the double logarithmic model is compared with a demand system which is derived from the indirect translog utility function. Estimates of the direct price and income elasticities are not particularly sensitive to model specification but the estimated cross-price elasticities are sensitive to the choice of functional form. The results indicate that the double logarithmic specification may be less satisfactory than the alternative presented in cases where restrictions on the parameters are imposed during estimation.

Suggested Citation

  • Fisher, Brian S., 1979. "The Demand For Meat - An Example Of An Incomplete Commodity Demand System," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 23(3), pages 1-11, December.
    • Handle: RePEc:ags:ajaeau:22974
    DOI: 10.22004/ag.econ.22974
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    References listed on IDEAS

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    1. Hendry, D F, 1971. "Maximum Likelihood Estimation of Systems of Simultaneous Regression Equations with Errors Generated by a Vector Autoregressive Process," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 12(2), pages 257-272, June.
    2. Christensen, Laurits R & Jorgenson, Dale W & Lau, Lawrence J, 1975. "Transcendental Logarithmic Utility Functions," American Economic Review, American Economic Association, vol. 65(3), pages 367-383, June.
    3. Carter, Richard A. L. & Nagar, Anirudh L., 1977. "Coefficients of correlation for simultaneous equation systems," Journal of Econometrics, Elsevier, vol. 6(1), pages 39-50, July.
    4. Hicks, J. R., 1986. "A Revision of Demand Theory," OUP Catalogue, Oxford University Press, number 9780198285502.
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    Citations

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    Cited by:

    1. Bhati, U.N., 1987. "Supply And Demand Responses For Poultry Meat In Australia," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 31(3), pages 1-10, December.
    2. Cornell, Laurence D. & Sorenson, Vernon L., 1986. "Implications of Structural Change in U.S. Demand for Meat on U.S. Livestock and Grain Markets," Agricultural Economic Report Series 201355, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    3. John J. Beggs, 1988. "Diagnostic Testing in Applied Econometrics," The Economic Record, The Economic Society of Australia, vol. 64(2), pages 81-101, June.
    4. Gorny, Rachel A. & Ahmadi-Esfahani, Fredoun Z., 1993. "Structural Change in the Demand for Differentiated Meat Products in Sydney," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 61(01), pages 1-9, April.
    5. Paul Cashin, 1991. "A Model Of The Disaggregated Demand For Meat In Australia," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 35(3), pages 263-283, December.
    6. Zhao, Xueyan & Mullen, John D. & Griffith, Garry R. & Griffiths, William E. & Piggott, Roley R., 2000. "An Equilibrium Displacement Model of the Australian Beef Industry," Research Reports 28007, New South Wales Department of Primary Industries Research Economists.
    7. Bewley, Ronald A., 1987. "The Demand For Milk In Australia Estimation Of Price And Income Effects From The 1984 Household Expenditure Survey," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 31(3), pages 1-15, December.
    8. E.J. Roberts, 1990. "The Demand for Meat: Part III," Economics Discussion / Working Papers 90-13, The University of Western Australia, Department of Economics.
    9. Bartley, Scott & Ball, Katrina & Weeks, Peter, 1988. "Household Meat Consumption in Sydney and Melbourne," Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) Archive 316163, Australian Government, Australian Bureau of Agricultural and Resource Economics and Sciences.
    10. repec:bla:ecorec:v:64:y:1988:i:185:p:81-101 is not listed on IDEAS
    11. William J. Martin & Darrell Porter, 1985. "Testing For Changes In The Structure Of The Demand For Meat In Australia," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 29(1), pages 16-31, April.
    12. Vere, David T. & Griffith, Garry R., 1988. "Supply and Demand Interactions in the New South Wales Prime Lamb Market," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), pages 1-19, December.
    13. Wong, Lucille & Selvanathan, Eliyathamby A. & Selvanathan, Saroja, 2015. "Modelling the meat consumption patterns in Australia," Economic Modelling, Elsevier, vol. 49(C), pages 1-10.
    14. Jeffrey T. LaFrance, 1990. "Incomplete Demand Systems And Semilogarithmic Demand Models," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 34(2), pages 118-131, August.
    15. Hutasuhut, Maradoli & Chang, Hui-Shung & Griffith, Garry & O’Donnell, Chris & Doran, Howard, 2002. "The Demand for Beef in Indonesia: Implications for Australian Agribusiness," Australasian Agribusiness Review, University of Melbourne, Department of Agriculture and Food Systems, vol. 10, pages 1-10, August.
    16. Julian M. Alston & James A. Chalfant, 1987. "Weak Separability And A Test For The Specification Of Income In Demand Models With An Application To The Demand For Meat In Australia," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 31(1), pages 1-15, April.
    17. Wilcox, Christopher J., 1989. "Social Costs Of Regulation Of Primary Industry: An Application To Animal Welfare Regulation Of The Victorian Pig Industry," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 33(3), pages 1-16, December.
    18. T. J. P. Voon, 1992. "A Cross‐Commodity Appraisal Of Demand‐Raising Research Benefits: Pork And Chicken In Australia," Journal of Agricultural Economics, Wiley Blackwell, vol. 43(2), pages 243-247, May.

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    Keywords

    Demand and Price Analysis;

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