A new model of consumer preferences is introduced. It is appropriate for modeling perishable commodities which are produced with a lag, where it is reasonable to assume the market-level quantities are fixed by previously made production decisions. The inverse Lewbel system, as it is called, is a...

Variability in published meat demand elasticity estimates for Canada motivates examining the importance of dynamics and endogeneity of right-hand-side variables. Wickens and Breusch suggest a re-parameterization of dynamics which allows estimating the long-run parameters directly and maintains...

Projections of world food demands hinge critically on the underlying functional form used to predict future demands. Simple functional forms can lead to unrealistic projections by failing to capture changes in income elasticities of demand as consumer becomes wealthier. This paper compares...