Estimating own and cross brand price elasticities, and price-cost margin ratios using store-level daily scanner data
This article addresses three issues related to Japanese dairy demand analysis. First, an econometric fluid milk demand model is estimated using store-level daily scanner data to determine whether the own-price elasticities are significantly different from previous estimates based on aggregate market-level data. This is important because of the current debate among Japanese dairy industry leaders concerning whether fluid milk is price inelastic or elastic. Own-price elasticity differences between fresh and reconstituted milk products are also examined. Second, milk product cross-price elasticities are estimated to measure the degree, if any, of substitutability between fresh milk and reconstituted milk products. Because most previous studies have relied upon aggregate market-level data, there are no previous estimates of cross-price elasticities for fresh milk and reconstituted milk products. Finally, price-cost margin ratios are estimated for each commodity using a method that does not require cost data, but rather relies on assumptions regarding the degree of competition to derive the price-cost margin ratio [Econlit alphanumeric subject codes: Q110, Q130]. © 2001 John Wiley & Sons, Inc.
Year of publication: |
2001
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Authors: | Kinoshita, Junko ; Suzuki, Nobuhiro ; Kawamura, Tamotsu ; Watanabe, Yasuhito ; Kaiser, Harry M. |
Published in: |
Agribusiness. - John Wiley & Sons, Ltd., ISSN 0742-4477. - Vol. 17.2001, 4, p. 515-525
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Publisher: |
John Wiley & Sons, Ltd. |
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