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The demands they are a-changin’

Author

Listed:
  • Eivind Hestvik Brækkan
  • Sverre Braathen Thyholdt
  • Frank Asche
  • Øystein Myrland

Abstract

Smooth operators such as time trends are often applied to deal with unidentified demand shifters. However, if unknown factors affect demand irregularly, a time trend fails to capture the variation. We present an index approach for estimating irregular demand shifts, decomposing total demand shifts into predicted and unexplained effects. This allows separating demand shifts caused by known factors like income and substitution effects from unknown impacts on demand. Our application on farmed salmon shows unknown factors impact demand irregularly both between regions and within regions over time. Unknowns contribute to more than half of global salmon demand growth in recent years.

Suggested Citation

  • Eivind Hestvik Brækkan & Sverre Braathen Thyholdt & Frank Asche & Øystein Myrland, 2018. "The demands they are a-changin’," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 45(4), pages 531-552.
    • Handle: RePEc:oup:erevae:v:45:y:2018:i:4:p:531-552.
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    File URL: http://hdl.handle.net/10.1093/erae/jby003
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    Cited by:

    1. Svanidze, Miranda & Ólafsdóttir, Guðrún & Đurić, Ivan & Thakur, Maitri, 2023. "Price relationships along the Norwegian salmon value chains: A comparative study of the leading consumption market in France and the largest processing industry in Poland," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 27(3), pages 382-404.
    2. Seungyeop Baek & Wontak Choi & Gyuchang Kim & Jaedeok Seo & Sanggon Lee & Hyomin Jeong & Yonmo Sung, 2022. "Liquefied Natural Gas Cold Energy Utilization for Land-Based Cold Water Fish Aquaculture in South Korea," Energies, MDPI, vol. 15(19), pages 1-13, October.

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