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Food Demand II: Further Results and Details

In: Short-cut Demand Elasticities and Other Convenient Approaches to Consumer Demand

Author

Listed:
  • Kenneth W. Clements

    (University of Western Australia)

  • Haiyan Liu

    (University of Western Australia)

  • Marc Jim M. Mariano

    (Commonwealth Scientific and Industrial Research Organisation)

  • Eliyathamby A. Selvanathan

    (Griffith University)

  • Saroja Selvanathan

    (Griffith University)

  • George Verikios

    (Griffith University)

Abstract

Engel’s law states that the relative importance of food falls as the consumer becomes more affluent, or the food income elasticity is less than unity, making the commodity a necessity. This chapter provides further details of this law and analyses the implication for food prices. Greater affluence leads to a fall in the relative importance of necessities and a rise in luxuries, so the composition of the budget is of higher quality. This leads to the luxury-necessity approach to measuring quality; this approach and alternatives are discussed.

Suggested Citation

  • Kenneth W. Clements & Haiyan Liu & Marc Jim M. Mariano & Eliyathamby A. Selvanathan & Saroja Selvanathan & George Verikios, 2025. "Food Demand II: Further Results and Details," Springer Books, in: Short-cut Demand Elasticities and Other Convenient Approaches to Consumer Demand, chapter 0, pages 91-102, Springer.
    • Handle: RePEc:spr:sprchp:978-981-96-3588-7_5
    DOI: 10.1007/978-981-96-3588-7_5
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