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THE FAST METHOD: ESTIMATING UNCONDITIONAL DEMAND ELASTICITIES FOR PROCESSED FOOD IN THE PRESENCE OF FIXED EFFECTS

Jason Bergtold (), Eberechukwu Akobundu and Everett Peterson

No 21893, 2003 Annual meeting, July 27-30, Montreal, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This study estimated a set of unconditional own-price and expenditure elasticities for 49 processed food categories using scanner data and the FAST multistage demand system. Overall, our estimated own-price and expenditure elasticities are generally much larger, in absolute terms, than previous estimates. The use of disaggregated product groupings and the estimation of unconditional elasticities accounts for these higher estimates. Over half of the own-price elasticities are larger, on an absolute basis, than 0.9. Providing more disaggregate product level demand elasticities could aid in the economic analysis of issues relating to industry competitiveness or the impact of public policy.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 32
Date: 2003
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Journal Article: The FAST Method: Estimating Unconditional Demand Elasticities for Processed Foods in the Presence of Fixed Effects (2004) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea03:21893

DOI: 10.22004/ag.econ.21893

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