Consumer Welfare Effects of Quantity Changes in Demand
Journal of Agricultural and Applied Economics, 2013, vol. 45, issue 2, 11
Information about consumer welfare effects associated with quantity changes in demand is important for agricultural and food policy decision-makers because many policy options are directly related to controlling supplies as a means to stabilize or raise commodity prices and farmers’ income. A new method is developed to measure the consumer welfare effects by using the estimates of an inverse demand system and a modified quantity-adjusted Malmquist index to represent the efficiency in quantity metric welfare. The methodology is validated by applying it to a U.S. inverse food demand system consisting of 13 food groups and a nonfood sector.
Keywords: Consumer/Household; Economics (search for similar items in EconPapers)
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Journal Article: Consumer Welfare Effects of Quantity Changes in Demand (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:joaaec:149102
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