000118592 001__ 118592
000118592 005__ 20170826061920.0
000118592 037__ $$a428-2016-27810
000118592 037__ $$a428-2016-28445
000118592 041__ $$aen_US
000118592 245__ $$aPrice elasticities, joint products, and international trade
000118592 260__ $$c2002
000118592 269__ $$a2002
000118592 300__ $$a14
000118592 336__ $$aJournal Article
000118592 520__ $$aThis paper extends the basic results of Houck’s insight for derived demand elasticities
for the case of joint products by allowing for the possibility of the joint and raw
products being traded. Theoretical relationships between individual demands for a
set of jointly-produced commodities that are traded and composite demand for the
raw product from which the joint products originate are derived. It is shown that
while the derived price elasticity of domestic demand retains the same form as
Houck’s original formula, the relevant price elasticities of demand to include in the
formula are elasticities of total demand instead of domestic demand elasticities.
Using the USA soybean industry as an example, this generalised formula that takes
into account trade is implemented to calculate the elasticity of total demand for USA
soybeans. The usefulness of this formula for policy-makers to trace out the impacts
of changes in market conditions and trade policy in the joint-products, and how it
will impact the price elasticity of domestic and total demand for the raw product, is
demonstrated.
000118592 542__ $$fLicense granted by Kayla Schanus (schan099@umn.edu) on 2011-12-06T16:08:40Z (GMT):

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000118592 650__ $$aDemand and Price Analysis
000118592 650__ $$aInternational Relations/Trade
000118592 700__ $$aPiggott, Nicholas E.
000118592 700__ $$aWohlgenant, Michael K.
000118592 773__ $$dDecember 2002$$jVolume 46$$kIssue 4$$o500$$q487$$tAustralian Journal of Agricultural and Resource Economics
000118592 8564_ $$s122439$$uhttp://ageconsearch.umn.edu/record/118592/files/1467-8489.t01-1-00056.pdf
000118592 887__ $$ahttp://purl.umn.edu/118592
000118592 909CO $$ooai:ageconsearch.umn.edu:118592$$qGLOBAL_SET
000118592 912__ $$nSubmitted by Kayla Schanus (schan099@umn.edu) on 2011-12-06T16:11:03Z
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  Previous issue date: 2005
000118592 982__ $$gAustralian Journal of Agricultural and Resource Economics>Volume 46, Issue 4, December 2002
000118592 980__ $$a428