Food Demand II: Further Results and Details

Kenneth W. Clements (), Haiyan Liu, Marc Jim M. Mariano (), Eliyathamby A. Selvanathan (), Saroja Selvanathan () and George Verikios ()
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Kenneth W. Clements: University of Western Australia
Haiyan Liu: University of Western Australia
Marc Jim M. Mariano: Commonwealth Scientific and Industrial Research Organisation
Eliyathamby A. Selvanathan: Griffith University
Saroja Selvanathan: Griffith University
George Verikios: Griffith University

Chapter Chapter 5 in Short-cut Demand Elasticities and Other Convenient Approaches to Consumer Demand, 2025, pp 91-102 from Springer

Abstract: Abstract Engel’s law states that the relative importance of food falls as the consumer becomes more affluent, or the food income elasticity is less than unity, making the commodity a necessity. This chapter provides further details of this law and analyses the implication for food prices. Greater affluence leads to a fall in the relative importance of necessities and a rise in luxuries, so the composition of the budget is of higher quality. This leads to the luxury-necessity approach to measuring quality; this approach and alternatives are discussed.

Date: 2025
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DOI: 10.1007/978-981-96-3588-7_5

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