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Testing For The Existence Of Price Points In Retail Milk Scanner Data Using Microeconomic Theory

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  • Veeramani, Venkat N.
  • Maynard, Leigh J.

Abstract

Many in the private sector believe that price points have important implications for pricing strategy. Methods to identify and incorporate price points in demand systems were developed. Empirical tests identified price points in milk scanner data, but failed to find strategically meaningful differences among splines defined by the price points.

Suggested Citation

  • Veeramani, Venkat N. & Maynard, Leigh J., 2004. "Testing For The Existence Of Price Points In Retail Milk Scanner Data Using Microeconomic Theory," 2004 Annual meeting, August 1-4, Denver, CO 20378, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea04:20378
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    References listed on IDEAS

    as
    1. McGuirk, Anya M. & Driscoll, Paul J. & Alwang, Jeffrey Roger & Huang, Huilin, 1995. "System Misspecification Testing And Structural Change In The Demand For Meats," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(01), July.
    2. Arthur Lewbel, 2003. "A rational rank four demand system," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 18(2), pages 127-135.
    3. Lewbel, Arthur, 1991. "The Rank of Demand Systems: Theory and Nonparametric Estimation," Econometrica, Econometric Society, vol. 59(3), pages 711-730, May.
    4. James Banks & Richard Blundell & Arthur Lewbel, 1997. "Quadratic Engel Curves And Consumer Demand," The Review of Economics and Statistics, MIT Press, vol. 79(4), pages 527-539, November.
    5. Maynard, Leigh J., 2000. "Empirical Tests Of The Argument That Consumers Value Stable Retail Milk Prices," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 18(2).
    6. Arthur Lewbel, 1989. "Exact Aggregation and a Representative Consumer," The Quarterly Journal of Economics, Oxford University Press, vol. 104(3), pages 621-633.
    7. John Muellbauer, 1975. "Aggregation, Income Distribution and Consumer Demand," Review of Economic Studies, Oxford University Press, vol. 42(4), pages 525-543.
    8. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
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    Keywords

    Demand and Price Analysis;

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