TRADE ALLOCATION MODELING: COMPARING THE RESULTS FROM ARMINGTON AND LOCALLY REGULAR AI DEMAND SYSTEM SPECIFICATIONS OF A UK BEEF IMPORT DEMAND ALLOCATION MODEL

Kevin F. Hanrahan, Patrick C. Westhoff and Young, Robert E.,

No 20510, 2001 Annual meeting, August 5-8, Chicago, IL from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Locally regular almost ideal demand system and Armington specifications of a UK beef import demand allocation model are estimated. A Bayesian methodology is used that allows for the incorporation of prior information from microeconomic theory. The results illustrate the potential of regularity constrained locally flexible functional forms in modeling trade.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 29
Date: 2001
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea01:20510

DOI: 10.22004/ag.econ.20510

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