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Price Sensitivities for U.S. Frozen Dairy Products

Published online by Cambridge University Press:  28 April 2015

Leigh J. Maynard
Affiliation:
Department of Agricultural Economics, University of Kentucky, Lexington, KY
Venkat N. Veeramani
Affiliation:
Department of Agricultural Economics, University of Kentucky, Lexington, KY
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Abstract

Price elasticities and flexibilities for frozen dessert products were estimated from weekly scanner data, with emphasis on functional form selection, system misspecification testing, and endogeneity testing. Reciprocals of elasticities and elasticity matrix inversion were invalid means of obtaining flexibility estimates, leaving direct estimation as the only viable, albeit resource-intensive, approach.

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Copyright
Copyright © Southern Agricultural Economics Association 2003

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