A QUAIDS MODEL OF JAPANESE MEAT DEMAND

Jing Xi, Ron Mittelhammer () and Thomas Heckelei

No 20120, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This paper makes a contribution to the application of nonlinear simultaneous equations estimation and nonparametric Bootstrapping techniques. The nonlinear demand model estimation work in this paper is in the context of the newly developed Quadratic Almost Ideal Demand System (QUAIDS) model, and provides substantive results in terms of both model estimation technique and empirical economic findings. For the first time, bootstrapping is used in this highly nonlinear modeling environment to estimate variability in demand model parameter estimates and associated demand elasticities. The application relates to Japanese consumer behavior relative to Wagyu Beef, Imported Beef, Pork, Chicken, and Fish demand, and the empirical results are highly relevant to U.S. exporters. The paper provides evidence of the substantially increased flexibility of the new model of consumer demand, and also illustrates the utility of using bootstrapping, as opposed to relying only on derivative based asymptotic approximations, for assessing the reliability of estimated results.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 29
Date: 2004
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20120

DOI: 10.22004/ag.econ.20120

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