Price elasticities and flexibilities for a system of frozen dessert products are estimated from scanner data. Simultaneity tests reject exogeneity of conditional expenditures, but not prices or quantities, at the weekly level. Inverting the elasticity matrix to obtain flexibilities, while...

Agricultural prices are determined by natural and socio-economic factors that are known to be self-similar at different time scales and to follow non-periodic cyclical patterns. These properties are most easily understood using Mandelbrot's fractal geometry, in which a jagged time series is...

The study employs the full-information maximum-likelihood method to estimate a censored translog demand system. U.S. household consumption of steak, roast, and ground beef are used to demonstrate the application of the estimation procedure. The proposed methodology produces more efficient...

This research aims to further the understanding of price behavior in predominantly agricultural water markets through a hedonic estimation of the impact of market and product attributes on water rights prices in the Cachapoal River Valley of South-Central Chile. It is hypothesized that the price...

Count data models that incorporate the existence of excess zero observations were employed to estimate minimum demand thresholds for rural Wisconsin retail sectors. It was found that single- and double-hurdle models improved the estimation of rural retail minimum demand thresholds.

We use a simple nonlinear commodity market model to illustrate the impact of recent reforms of the CAP on the variability of EU and world wheat prices. Second, within an expected utility framework we estimate the transfer and risk effects on producer welfare due to market liberalizing reforms....

Structural change in meat consumption has been the focus of many researchers during the last two decades. In this paper we develop a dynamic linear Almost Ideal Demand System (AIDS) model from a cost function that allows for time varying parameters. This model is consistent with inertia in the...

Irreversible demand is relevant to pricing strategy and demand modeling with weekly data. Competing explanations include loss aversion and stockpiling. Irreversible models for U.S. cheese and table spreads suggest that stockpiling dominates loss aversion. Price smoothing may be an inappropriate...

This study investigates the demand for selected healthy food groups in the United States. The original linear approximate almost ideal demand system (LA/AIDS) is modified by the use of a Laspeyres index and a normalization in order to compute demand elasticities identically to the AIDS model....

This study analyses the stochastic behavior of price-cost margins (PCMs) in the U.S. meat industry. It, first, develops and estimates a vertical relationship economic model to derive PCMs in the U.S. meat industry (Beef, Pork, and Poultry). Second it analyzes the behavior of PCMs by decomposing...