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Consumption dynamics in inverse demand systems: an application to meat and fish demand in Korea
Wong,K. K.Gary1; Park,Hoanjae2
2018-11-06
Source PublicationAgricultural Economics (United Kingdom)
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.

KeywordD11 D12 D9 Euler Equation Flexibilities Intertemporal Two-stage Budgeting Process Inverse Demands Korea
DOI10.1111/agec.12459
URLView the original
Language英語English
WOS IDWOS:000449990200009
Scopus ID2-s2.0-85053766062
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Document TypeJournal article
CollectionUniversity of Macau
Affiliation1.Department of EconomicsFSSThe University of Macau,Taipa,Macao
2.Department of Economics and International TradeCatholic University of Daegu,Gyeongsan,South Korea
First Author AffilicationFaculty of Social Sciences
Recommended Citation
GB/T 7714
Wong,K. K.Gary,Park,Hoanjae. Consumption dynamics in inverse demand systems: an application to meat and fish demand in Korea[J]. Agricultural Economics (United Kingdom), 2018, 49(6), 777-786.
APA Wong,K. K.Gary., & Park,Hoanjae (2018). Consumption dynamics in inverse demand systems: an application to meat and fish demand in Korea. Agricultural Economics (United Kingdom), 49(6), 777-786.
MLA Wong,K. K.Gary,et al."Consumption dynamics in inverse demand systems: an application to meat and fish demand in Korea".Agricultural Economics (United Kingdom) 49.6(2018):777-786.
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