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The Use of Discrete Variables to Estimate Price and Income Elasticities for Products with Seasonal Consumption Patterns

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  • Trammell, David L.
  • Hurt, Verner G.

Abstract

The consumption of a number of agricultural products varies from one season of the year to another. For some products, seasonal variations in consumption correspond to variations in production. For others, such as fluid milk, consumption and production patterns tend to vary inversely, Downen [2] reported significant seasonal variations in daily average sales of fluid milk with the highest sales occurring in the fall and winter months and the lowest in the spring and summer months. Other studies [1,5] have also reported seasonal variations in per capita sales of fluid milk. Conversely, production of fluid milk naturally tends to peak in the spring and summer months and reach its lowest point in the fall and winter.

Suggested Citation

  • Trammell, David L. & Hurt, Verner G., 1971. "The Use of Discrete Variables to Estimate Price and Income Elasticities for Products with Seasonal Consumption Patterns," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 3(1), pages 109-113, December.
    • Handle: RePEc:cup:jagaec:v:3:y:1971:i:01:p:109-113_01
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