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Sources Of Irreversible Consumer Demand In U.S. Dairy Products

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  • Maynard, Leigh J.

Abstract

Irreversible demand is relevant to pricing strategy and demand modeling with weekly data. Competing explanations include loss aversion and stockpiling. Irreversible models for U.S. cheese and table spreads suggest that stockpiling dominates loss aversion. Price smoothing may be an inappropriate strategy in this case. Reversible demand models applied to weekly data may overestimate own-price elasticities.

Suggested Citation

  • Maynard, Leigh J., 2000. "Sources Of Irreversible Consumer Demand In U.S. Dairy Products," 2000 Annual meeting, July 30-August 2, Tampa, FL 21876, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea00:21876
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    File URL: http://purl.umn.edu/21876
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    References listed on IDEAS

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    1. Friedman, James, 1993. "Oligopoly theory," Handbook of Mathematical Economics,in: K. J. Arrow & M.D. Intriligator (ed.), Handbook of Mathematical Economics, edition 4, volume 2, chapter 11, pages 491-534 Elsevier.
    2. Lass, Daniel A. & Adanu, Mawunyo & Allen, P. Geoffrey, 2001. "Impacts of the Northeast Dairy Compact on New England Retail Prices," Agricultural and Resource Economics Review, Cambridge University Press, vol. 30(01), pages 83-92, April.
    3. repec:ags:nejare:v:30:y:2001:i:1:p:83-92 is not listed on IDEAS
    4. Philip R. Vande Kamp & Harry M. Kaiser, 1999. "Irreversibility in Advertising-Demand Response Functions: An Application to Milk," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(2), pages 385-396.
    5. Maynard, Leigh J. & Liu, Deyu, 1999. "Fragility In Dairy Product Demand Analysis," 1999 Annual meeting, August 8-11, Nashville, TN 21679, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Bergtold, Jason S. & Akobundu, Eberechukwu & Peterson, Everett B., 2004. "The FAST Method: Estimating Unconditional Demand Elasticities for Processed Foods in the Presence of Fixed Effects," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 29(02), August.
    2. Davis, Christopher G. & Blayney, Donald P. & Dong, Diansheng & Yen, Steven T. & Johnson, Rachel J., 2011. "Will Changing Demographics Affect U.S. Cheese Demand?," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 43(02), May.
    3. Huang, Min-Hsin & Hahn, David E. & Jones, Eugene, 2004. "Determinants Of Price Elasticities For Store Brands And National Brands Of Cheese," 2004 Annual meeting, August 1-4, Denver, CO 20235, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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    Keywords

    Demand and Price Analysis;

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