Consumer cohorts and demand elasticities

Geir Wæhler Gustavsen

European Review of Agricultural Economics, 2015, vol. 42, issue 2, 217-237

Abstract: A mixed effects model is used to estimate intercepts, price and expenditure elasticities for vegetables, meat and fish in different cohorts. Results from Wald tests reveal that intercepts for fish are higher for older cohorts than for younger cohorts, and expenditure elasticities for meat are higher for older cohorts than for younger cohorts. The implication is that over time, when younger cohorts replace older cohorts, the total expenditure share for fish is likely to decrease contributing to a negative trend in fish consumption. For meat, the total expenditure elasticity is likely to decrease.

Date: 2015
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