Demand System Analysis of the South Korean Beef Market with the Free Trade Demand Model
In this study a demand system analysis for beef in South Korea is constructed. A free trade demand system was used in which the economic welfare of market participants are maximized. Recognizing implicit discrimination about non-locally sourced beef products, this study deduces market demand equations with respect to consumer preference in order to identify the marginal effect of change consumer preference has on market demand.
|Date of creation:||2008|
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- James Eales, 1996. "A Further Look at Flexibilities and Elasticities: Comment," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(4), pages 1125-1129.
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