IMPORT DEMAND SYSTEM ANALYSIS OF THE SOUTH KOREAN WINE MARKET WITH THE SOURCE DIFFERENTATED AIDS MODEL

Youngjae Lee, P. Lynn Kennedy and Brian Hilbun

No 6345, 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Under the assumption of block substitutability and partial aggregation, a source differentiated AIDS model was used to estimate South Korean wine import demand. Empirical results indicate that South Korean wine consumers have a strong preference for high quality French wines. French wines are shown to be substitutes for wines from other countries in the South Korean wine market. Since the implementation of a free trade agreement between South Korea and Chile, Chilean wines have steadily increased their market share exhibiting strong price competitiveness in the South Korean wine market.

Keywords: wine; AIDS; block substitutability; import demand; Demand and Price Analysis (search for similar items in EconPapers)
Date: 2008
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