The Taste for Variety: Demand Analysis for Nut Products in the United States
Guo Cheng (),
Senarath Dharmasena and
No 252719, 2017 Annual Meeting, February 4-7, 2017, Mobile, Alabama from Southern Agricultural Economics Association
The purpose of this study is to augment the classical demand model with consumer’s variety-seeking behavior using 2004-2014 weekly Nielsen scanner data for nut products. We introduce an index variable of taste for variety into the Quadratic Almost Ideal Demand System model with pre-committed quantities. Results show that consumers do respond to the price of nut products since the pre-committed quantities only account for 10% of total consumptions. Consumers purchase more tree nut products while seeking variety, including pecan, walnut, and pistachio, and demand interrelationships among nut products change after allowing consumers to compensate through income.
Keywords: Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis (search for similar items in EconPapers)
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