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Consumption Dynamics in Inverse Demand Systems: An Application to Meat and Fish Demand in Korea
Wong Ka Kei Gary(黃嘉基)
2018-11
Source PublicationAgricultural Economics
ABS Journal Level2
ISSN15740862 01695150
Volume49Issue:6Pages:777-786
Abstract

In this study, meat and fish consumption is depicted in the form of inverse demand systems taking into consideration the intertemporal consumption behavior presented in the data. The concept of intertemporal two-stage budgeting process is applied to this system which explicitly incorporates intertemporal consumption behavior as summarized by the Euler equation. Results based on Korean meat and fish products indicate that the proposed method is promising. Furthermore, the prices of meat and fish are quantity inflexible while the prices of beef and pork are sensitive to changes in consumption scale.

KeywordEuler Equation Flexibilities Intertemporal Two-stage Budgeting Process Inverse Demands Korea
DOI10.1111/agec.12459
Indexed BySSCI
Language英語English
WOS IDWOS:000449990200009
Scopus ID2-s2.0-85053766062
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Citation statistics
Document TypeJournal article
CollectionFaculty of Social Sciences
DEPARTMENT OF ECONOMICS
Corresponding AuthorWong Ka Kei Gary(黃嘉基)
Recommended Citation
GB/T 7714
Wong Ka Kei Gary. Consumption Dynamics in Inverse Demand Systems: An Application to Meat and Fish Demand in Korea[J]. Agricultural Economics, 2018, 49(6), 777-786.
APA Wong Ka Kei Gary.(2018). Consumption Dynamics in Inverse Demand Systems: An Application to Meat and Fish Demand in Korea. Agricultural Economics, 49(6), 777-786.
MLA Wong Ka Kei Gary."Consumption Dynamics in Inverse Demand Systems: An Application to Meat and Fish Demand in Korea".Agricultural Economics 49.6(2018):777-786.
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