A REVIEW OF THE ARTS OF ESTIMATING PRICE‐RESPONSIVENESS OF FEED DEMAND IN THE EUROPEAN UNION

Ludo Peeters and Yves Surry

Journal of Agricultural Economics, 1997, vol. 48, issue 1‐3, 379-392

Abstract: This paper reviews the ‘state of the art’ of estimating price‐responsiveness of the demand for feed ingredients in the European Union (EU). After a brief description of the main characteristics of the EU feed market, several modelling approaches are discussed. These have been categorised into three broad groups: (i) synthetic approaches; (ii) linear programming (LP) approaches; (iii) econometric approaches. Also, some recent extensions of the ‘traditional’ econometric approach are briefly reviewed, such as the construction of feed demand balances using incomplete information and the measurement of price‐induced technical change. Finally, a number of methodological and practical issues are raised.

Date: 1997
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