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An Assessment of Dynamic Behavior in the U.S. Catfish Market: An Application of the Generalized Dynamic Rotterdam Model

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  • Muhammad, Andrew
  • Jones, Keithly G.

Abstract

The generalized dynamic Rotterdam model was used in estimating U.S. demand for disaggregated catfish. The overall goal was to examine habit persistence in consumption and to determine the adjustment process in demand. Results indicated that it took up to 1 month for catfish-product demand to fully adjust to changes in expenditures and prices. Additionally, habit persistence played a role in demand where present consumption of a given product was positively affected by past consumption of that product. Consequently, U.S. catfish demand was significantly more elastic in the long-run.

Suggested Citation

  • Muhammad, Andrew & Jones, Keithly G., 2009. "An Assessment of Dynamic Behavior in the U.S. Catfish Market: An Application of the Generalized Dynamic Rotterdam Model," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 41(3), pages 1-14, December.
    • Handle: RePEc:ags:joaaec:56660
    DOI: 10.22004/ag.econ.56660
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    References listed on IDEAS

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    Cited by:

    1. Walters, Lurleen M. & Jones, Keithly G., 2016. "Caribbean Food Import Demand: An Application of the CBS Differential Demand System," Journal of Food Distribution Research, Food Distribution Research Society, vol. 47(2), pages 1-19, July.

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    More about this item

    Keywords

    Agribusiness; Consumer/Household Economics; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Institutional and Behavioral Economics;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade

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