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A Random Coefficient Meat Demand Model

William Hahn ()

Journal of Agricultural Economics Research, 1994, vol. 45, issue 3, 10

Abstract: The stability of the US consumer demand for meat has been a popular topic for journal articles I show that econometric models imply that demand is fundamentally unstable. A good way to build taste instability into econometric demand equations is to specify them as random coefficient models. I estimate a random coefficient model of meat demand and find significant evidence that taste instability has caused fluctuations in the elasticities of demand for beef, pork, chicken, and turkey.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 1994
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DOI: 10.22004/ag.econ.137415

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