A COMPARISON OF DEMANDS FOR MEAT PRODUCTS IN THE PACIFIC RIM REGION
By: Capps, Oral, Jr.; Tsai, Reyfong; Kirby, Raymond; Williams, Gary W.
Capps, Oral, Jr.; Tsai, Reyfong; Kirby, Raymond; Williams, Gary W., A COMPARISON OF DEMANDS FOR MEAT PRODUCTS IN THE PACIFIC RIM REGION, Journal of Agricultural and Resource Economics, Volume 19, Issue 1, July 1994, Pages 210-224
The Rotterdam model is used to obtain estimates of demand parameters for meat products in Taiwan, South Korea, and Japan. Unlike most previous studies of demand systems, the model takes into account simultaneous-equation bias which arises due to the endogeneity of total expenditure. Beef, pork, and chicken are separable from marine products for each Pacific Rim country. However, demand elasticities for beef, pork, and chicken are different among the various Pacific Rim nations. One may not then use the elasticity estimates of a particular country and apply them to other Pacific Rim markets.