ELASTICITIES OF DEMAND FOR FOOD: AN ANALYSIS USING NON-ADDITIVE UTILITY FUNCTIONS ALLOWING FOR HABIT FORMATION.
The purpose of this paper is to assess the roles of habit formation and of responsiveness to price and expenditure changes in explaining U.S. consumption of four major types of food: meats, produce, cereal and bakery products, and miscellaneous foods. Substitution possibilities among these food type...
| Publicado en: | Southern Economic Journal Vol. 43; no. 1; pp. 879 - 892 |
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| Formato: | Artículo |
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Wiley-Blackwell
Jul76
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4627361&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4627361 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00384038 SEJ jtl: Southern Economic Journal issn: 00384038 maglogo: N pubinfo: dt: Jul76 vid: 43 iid: 1 pid: 480 pub: Wiley-Blackwell artinfo: ui: 4627361 10.2307/1056349 ppf: 879 ppct: 13 formats: tig: atl: ELASTICITIES OF DEMAND FOR FOOD: AN ANALYSIS USING NON-ADDITIVE UTILITY FUNCTIONS ALLOWING FOR HABIT FORMATION. aug: au: Manser, Marilyn E. su: Consumption (Economics) Elasticity (Economics) Utility functions United States sug: subj: United States Consumption (Economics) Elasticity (Economics) Utility functions ab: The purpose of this paper is to assess the roles of habit formation and of responsiveness to price and expenditure changes in explaining U.S. consumption of four major types of food: meats, produce, cereal and bakery products, and miscellaneous foods. Substitution possibilities among these food types are considered. Estimates of expenditure and own-price elasticities of demand are also obtained. <BR> In summary, these results support the conclusion of other researchers such as Christensen and Manser [7; 8] and Blackorby, Boyce, Nissen, and Russell [2] that elasticity estimates are extremely sensitive to the choice of functional form. The elasticity estimates emerging from single-equation estimates of demand functions, such as that of Benus, Kmenta, and Shapiro [11 are likely to be particularly unreliable since parameter estimates of demand systems are sensitive to whether the cross-equation restrictions of consumer demand theory are imposed for estimation. Our results also support the surprising conclusion that imposition of additivity restrictions on either of our non-additive models with habit formation results in changes in the elasticities which are as substantial as the changes resulting from imposition of stationarity. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1976 holdings: @attributes: islocal: N |
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