An Examination of Inverse Demand Models: An Application to the U.S. Crawfish Industry

Young-Jae Lee and P. Lynn Kennedy

Agricultural and Resource Economics Review, 2008, vol. 37, issue 2, 14

Abstract: This study analyzes quantity impacts of imported crawfish tailmeat on Louisiana crawfish tailmeat prices, and demonstrates the statistical validity and proper interpretation of cross substitution within inverse demand systems. Among five inverse demand systems, the Differential Inverse National Bureau of Research (DINBR) model shows no violation of econometric assumptions for the data analyzed. By using Allais coefficients proposed by Barten and Bettendorf (1989), we show substitutability among the five fish species.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:arerjl:45661

DOI: 10.22004/ag.econ.45661

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