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More on the Price-Responsiveness of Food Consumption

Author

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  • Kenneth W Clements

    (Business School, University of Western Australia)

  • Jiawei Si

    (Business School, University of Western Australia)

Abstract

Cornelsen et al. (2014) and Green et al. (2013) provide a comprehensive review/summary of a large number of recent estimates of the price responsiveness of food consumption using a meta-regression approach. For seven food items, they present uncompensated elasticities that include both the income and substitution effects of price changes. As for some policy purposes, the substitution effects need to be isolated, in this note we introduce a way of recovering these in the form of the compensated elasticities from their uncompensated counterparts.

Suggested Citation

  • Kenneth W Clements & Jiawei Si, 2015. "More on the Price-Responsiveness of Food Consumption," Economics Discussion / Working Papers 15-03, The University of Western Australia, Department of Economics.
    • Handle: RePEc:uwa:wpaper:15-03
    as

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    File URL: https://ecompapers.biz.uwa.edu.au/paper/PDF%20of%20Discussion%20Papers/2015/15.03%20Clements%2C%20K.%20and%20Si%2C%20J.%20-%20MORE%20ON%20THE%20PRICE-RESPONSIVENESS%20.pdf
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    References listed on IDEAS

    as
    1. Barro, Robert J, 1989. "The Ricardian Approach to Budget Deficits," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 37-54, Spring.
    2. Grace Gao, 2012. "World Food Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(1), pages 25-51.
    3. Clements,Kenneth W. & Zhao,Xueyan, 2014. "Economics and Marijuana," Cambridge Books, Cambridge University Press, number 9781107421479, January.
    4. Laura Cornelsen & Rosemary Green & Rachel Turner & Alan D. Dangour & Bhavani Shankar & Mario Mazzocchi & Richard D. Smith, 2015. "What Happens to Patterns of Food Consumption when Food Prices Change? Evidence from A Systematic Review and Meta‐Analysis of Food Price Elasticities Globally," Health Economics, John Wiley & Sons, Ltd., vol. 24(12), pages 1548-1559, December.
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    Cited by:

    1. Clark, Beth & Stewart, Gavin B. & Panzone, Luca A. & Kyriazakis, Ilias & Frewer, Lynn J., 2017. "Citizens, consumers and farm animal welfare: A meta-analysis of willingness-to-pay studies," Food Policy, Elsevier, vol. 68(C), pages 112-127.
    2. Sarkki, Simo & Karjalainen, Timo P., 2015. "Ecosystem service valuation in a governance debate: Practitioners' strategic argumentation on forestry in northern Finland," Ecosystem Services, Elsevier, vol. 16(C), pages 13-22.

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