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

Young-Jae Lee, P. Lynn Kennedy and Brian M. 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: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 26
Date: 2008
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea08:6345

DOI: 10.22004/ag.econ.6345

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