Demand for Pork Meats: A Multiple-Discrete-Continuous Extreme Value Model Analysis

Ohsang Kwon

Journal of Rural Development/Nongchon-Gyeongje, 2014, vol. 37, issue 4

Abstract: This study estimates household demand for fresh pork cuts using a Korean scanner data set and a multiple-discrete-continuous extreme value econometric model. The choices for purchasing cuts and purchasing amounts are derived from an MDCEV utility function consistently. We estimate the own and cross price elasticities of demand, income elasticities, and the impacts of household characteristics on demands using a simulation approach. The study finds that the estimates for own price elasticities are larger than those found by a comparable reduced-form study, while those for cross price and income elasticities obtained from the two different approaches are quite similar. It is shown that the belly, the ribs, the shoulder, and the special cuts are normal while the others are inferior. The impacts of household size, age, family composition, housing type, and purchasing season on the choice of pork cuts are also estimated.

Keywords: Livestock; Production/Industries (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jordng:330649

DOI: 10.22004/ag.econ.330649

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