Estimating price and income elasticities in the presence of age-cohort effects

Hiroshi Mori, Dennis L. Clason and Jay M. Lillywhite
Additional contact information
Hiroshi Mori: Senshu University, Tokyo, Japan, Postal: Senshu University, Tokyo, Japan
Dennis L. Clason: Department of Economics and University Statistics Center, New Mexico State University, Las Cruces, NM 88003, Postal: Department of Economics and University Statistics Center, New Mexico State University, Las Cruces, NM 88003
Jay M. Lillywhite: Department of Agricultural Economics and Agricultural Business, New Mexico State University, Las Cruces, NM 88003, Postal: Department of Agricultural Economics and Agricultural Business, New Mexico State University, Las Cruces, NM 88003

Agribusiness, 2006, vol. 22, issue 2, 201-217

Abstract: Individual consumption of most food products varies by age, and in countries like Japan that have experienced drastic social and economic changes during the past several decades, it also differs from generation to generation. Unless proper measures are taken to account for these factors, estimates of demand elasticities could be severely biased. In this study, individual consumption of fresh fruit was derived from Japanese household data classified by age of household head for the years 1979-2001. Individual consumption was then decomposed by age, cohort, and period effects using Bayesian cohort analysis. Pure period effects thus determined were regressed against changes in price and income, to obtain less biased estimates for demand parameters than non- or partially age-compensated analysis. [Econlit citations: Q110]. © 2006 Wiley Periodicals, Inc. Agribusiness 22: 201-217, 2006.

Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://hdl.handle.net/10.1002/agr.20080 Link to full text; subscription required (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:agribz:v:22:y:2006:i:2:p:201-217

DOI: 10.1002/agr.20080

Access Statistics for this article

Agribusiness is currently edited by Ronald W. Cotterill

More articles in Agribusiness from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().