SUBSTITUTION BETWEEN WOOLS OF DIFFERENT FIBRE DIAMETER

Stephen Beare and Helen Meshios

Australian Journal of Agricultural Economics, 1990, vol. 34, issue 01, 11

Abstract: The extent to which wools with different fibre characteristics can be substituted in textile production and consumption holds implications for Australia's international and domestic marketing policies. An analysis of price-induced substitution between Australian wools of different fibre diameters was conducted. Fibre diameter was used to parameterise cross-price relationships in order to estimate a system of demand equations for wools by diameter class. The results indicate that direct substitution takes place within a very limited range of fibre diameters. The use of product characteristics to parameterise price relationships may be extended to other graded commodities.

Keywords: Crop; Production/Industries (search for similar items in EconPapers)
Date: 1990
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
https://ageconsearch.umn.edu/record/22499/files/34010056.pdf (application/pdf)

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:ags:ajaeau:22499

DOI: 10.22004/ag.econ.22499

Access Statistics for this article

More articles in Australian Journal of Agricultural Economics from Australian Agricultural and Resource Economics Society Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().