Demand Analysis for Shrimp in the United States

Zhou, Xia (Vivian) and Saleem Shaik

No 6524, 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This paper analyzes the demand for shrimp along with beef, pork, and chicken in the US food market, which contributes much to predicting supply strategies, consumer preferences and policy making. It focuses on the own and cross relationship between the expenditure share and price, income changes. An Almost Ideal Demand System (AIDs) model and two alternative specifications are used to estimate a system of expenditure share equations for shrimp, beef, pork, and chicken. Empirical results indicated that some insignificant slope coefficients and inappropriate signs of them did not comply with microeconomic theory. This could be caused by heteroscedasticity, autocorrelation, a limitation in the data used, or shrimp is a commodity that is quite different.

Keywords: expenditure share; own and cross relationship; Almost Ideal Demand System (AIDs); heteroscedasticity; and autocorrelation; Demand and Price Analysis (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ind
Date: 2008
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