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Consumption Dynamics in Inverse Demand Systems: An Application to Meat and Fish Demand in Korea
Wong, K. K.; Park, H. J.
2018-08-01
Source PublicationAgricultural Economics
ABS Journal Level2
ISSN1574-0862
Pages777-786
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.

KeywordInverse Demands Intertemporal Two-stage Budgeting Process Euler Equation Korea Flexibilities
Language英語English
The Source to ArticlePB_Publication
Document TypeJournal article
CollectionFaculty of Social Sciences
Corresponding AuthorWong, K. K.
Recommended Citation
GB/T 7714
Wong, K. K.,Park, H. J.. Consumption Dynamics in Inverse Demand Systems: An Application to Meat and Fish Demand in Korea[J]. Agricultural Economics, 2018, 777-786.
APA Wong, K. K.., & Park, H. J. (2018). Consumption Dynamics in Inverse Demand Systems: An Application to Meat and Fish Demand in Korea. Agricultural Economics, 777-786.
MLA Wong, K. K.,et al."Consumption Dynamics in Inverse Demand Systems: An Application to Meat and Fish Demand in Korea".Agricultural Economics (2018):777-786.
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