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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
Source PublicationAGRICULTURAL ECONOMICS
ISSN0169-5150
Volume49Issue:6Pages:777-786
AbstractIn 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
DOI10.1111/agec.12459
URLView the original
Indexed BySCI ; SSCI
Language英语
WOS Research AreaAgriculture ; Business & Economics
WOS SubjectAgricultural Economics & Policy ; Economics
WOS IDWOS:000449990200009
PublisherWILEY
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Citation statistics
Document TypeJournal article
CollectionUniversity of Macau
Affiliation1.Univ Macau, FSS, Dept Econ, Taipa, Macau, Peoples R China;
2.Catholic Univ Daegu, Dept Econ & Int Trade, Gyongsan, South Korea
First Author AffilicationUniversity of Macau
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,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,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 49.6(2018):777-786.
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