|
AgEcon Search >
Marine Resource Economics >
Volume 07, Number 2, 1992 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/48617
|
| Title: | The Demand For Wet Fish in Great Britain |
| Authors: | Burton, Michael P. |
| Keywords: | inverse demand systems
wet fish
causality |
| Issue Date: | 1992 |
| Series/Report no.: | Marine Resource Economics
Vol. 7 No. 2 |
| Abstract: | Conventional empirical demand systems normally take prices to be exogenous, and determine the quantities demanded. Although this is logical for the individual consumer, at the market level the aggregate quantity traded may be exogenously determined, while the price vector changes to ensure the
markets clear. It is suggested that this alternative scenario is particularly
attractive for foodstuffs, and especially for wet fish, the commodity under
consideration. An empirical analysis of the demand for wet fish in the UK using both the direct and indirect Translog models suggest that in this market, quantities are determining prices rather than the other way round. Furthermore, the two models provide widely different estimates of consumer preferences. This would suggest that more attention should be paid to the direction
of causality in markets when undertaking formal demand analysis. |
| URI: | http://purl.umn.edu/48617 |
| Identifiers: | 0738-1360 |
| Institution/Association: | Marine Resource Economics>Volume 07, Number 2, 1992 |
| Total Pages: | 10 |
| From Page: | 57 |
| To Page: | 66 |
| Collections: | Volume 07, Number 2, 1992
|
Files in This Item:
| File |
Description |
Size | Format |
|---|
| 18824215.pdf | | 599Kb | PDF | View/Open |
|
Recommend this item
All items in AgEcon Search are protected by copyright.
|
