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Derived Demand For Wheat By Class

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  • Terry, Justin J.
  • Marsh, Thomas L.

Abstract

To quantify price responsiveness and economic substitutability among wheat classes, derived demand functions were specified from a normalized quadratic profit function. Own-price and cross-price elasticities were estimated for hard red winter, hard red spring, soft wheat (combined red and white), and durum wheat. In general, soft wheat varieties were less responsive to their own price than were hard wheat varieties. Cross-price elasticities indicate that hard red winter wheat, hard red spring wheat, and soft wheat varieties are economic substitutes. Cross-price elasticities are different from those previously reported, which can have important policy implications.

Suggested Citation

  • Terry, Justin J. & Marsh, Thomas L., 2000. "Derived Demand For Wheat By Class," 2000 Annual Meeting, June 29-July 1, 2000, Vancouver, British Columbia 36457, Western Agricultural Economics Association.
    • Handle: RePEc:ags:waeava:36457
    DOI: 10.22004/ag.econ.36457
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    File URL: https://ageconsearch.umn.edu/record/36457/files/sp00te01.pdf
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    References listed on IDEAS

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    1. Barry K. Goodwin & Gary W. Brester, 1995. "Structural Change in Factor Demand Relationships in the U.S. Food and Kindred Products Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(1), pages 69-79.
    2. Chambers,Robert G., 1988. "Applied Production Analysis," Cambridge Books, Cambridge University Press, number 9780521314275.
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    Cited by:

    1. Jacinto F. Fabiosa & Helen H. Jensen & Dong Yan, 2004. "Output Supply and Input Demand System of Commercial and Backyard Poultry Producers in Indonesia," Food and Agricultural Policy Research Institute (FAPRI) Publications (archive only) 04-wp363, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    2. Njonou, Rabelais Yankam & Frahan, Bruno Henry de & Surry, Yves R., 2002. "Testing Separability for Common Wheat Qualities in French Import Demand Market Using Aids and Rotterdam Demand Models," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24921, European Association of Agricultural Economists.
    3. Thomas L. Marsh, 2005. "Economic substitution for US wheat food use by class," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(3), pages 283-301, September.

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