Correcting for measurement error in food demand estimation

Article Abstract:

Producer, processor and consumer behaviour is transposed into a system of equations to accurately estimate beef retail demand elasticity. The assumption of fixed input proportions used with disappearance data is not required. Disappearance data is used in place of actual consumption data, which results in inaccurate own-price retail demand estimates. The new model gives beef a 0.45 own-price retail demand elasticity, compared to the -0.66 attained via the conventional means. The equations can be similarly used for other food commodities.

Supply and demand, Beef

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Central planners as market stabilizers: evidence from Poland and the Soviet Union

Article Abstract:

Central planners' capacity to identify market imbalances in the grain and wheat markets was verified using an econometric model of wheat and grain supply, demand and trade. Planners' perceptions were seen to affect production and trade decisions but only to the extent of reducing and not eliminating excess demand and supply.

Models, Econometrics, Forecasting, Food supply

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Hybrid rice innovation in China: a study of market-demand induced technological innovation in a centrally-planned economy

Article Abstract:

A case study of hybrid rice development in China is utilized to verify the soundness of the Griliches-Schmookler theory of market demand-stimulated innovations in central planning. Results showed that farm size is a major determinant of rice research budgets and degree of rice technology dissemination in provinces.

Case studies, Technological innovations, Hybrid rice

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