Demand Analysis for Shrimp in the United States
This paper analyzes the demand for shrimp along with beef, pork, and chicken in the US food market, which contributes much to predicting supply strategies, consumer preferences and policy making. It focuses on the own and cross relationship between the expenditure share and price, income changes. An Almost Ideal Demand System (AIDs) model and two alternative specifications are used to estimate a system of expenditure share equations for shrimp, beef, pork, and chicken. Empirical results indicated that some insignificant slope coefficients and inappropriate signs of them did not comply with microeconomic theory. This could be caused by heteroscedasticity, autocorrelation, a limitation in the data used, or shrimp is a commodity that is quite different.
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- Adams, Charles M. & Prochaska, Fred J. & Spreen, Thomas H., 1987. "Price Determination In The U.S. Shrimp Market," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 19(02), December.
- Heien, Dale & Pompelli, Greg, 1988. "The Demand For Beef Products: Cross-Section Estimation Of Demographic And Economic Effects," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 13(01), July.
- Douglas Fisher & Adrian R. Fleissig & Apostolos Serletis, 2001. "An empirical comparison of flexible demand system functional forms," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(1), pages 59-80.
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