An Intertemporal Analysis of the Nature of Demand for Food Products

Floyd K. Harmston and Hiroyuki Hino

American Journal of Agricultural Economics, 1970, vol. 52, issue 3, 381-386

Abstract: Changes in "taste" are very important in the demand for food products. Most analyses, however, assume taste to be a constant. By utilizing a natural log polynomial function for the Engel curve and examining the resultant income elasticities of demand, certain refinements of standard classifications of commodities are possible. These can then be used to analyze changes in taste over time. The results indicate that taste is highly variable. Further, changes in taste are significantly different for different kinds of food. Recent unprecedented shifts in family income make it imperative that there be better understanding of the nature of demand.

Date: 1970
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