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Please use this identifier to cite or link to this item: http://purl.umn.edu/14661

Title: EMPIRICAL TESTS OF THE ARGUMENT THAT CONSUMERS VALUE STABLE RETAIL MILK PRICES
Authors: Maynard, Leigh J.
Keywords: dairy compacts
dairy demand
price instability
scanner data
Issue Date: 2000
Abstract: Existing policy allows interstate dairy compacts if they serve a compelling public interest. Compact supporters argue consumers benefit from retail price stability, but no supporting evidence was found. Milk demand systems were estimated using scanner data and four measures of price volatility. Price volatility defined as forecast errors influenced demand, but did not systematically depress demand. Response was more elastic to unanticipated than anticipated price changes, possibly explaining the higher elasticities often observed in scanner data studies.
URI: http://purl.umn.edu/14661
Institution/Association: Journal of Agribusiness>Volume 18, Number 2, Spring 2000
Total Pages: 18
Language: English
From Page: 155
To Page: 172
Collections:Volume 18, Number 2, Spring 2000

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