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Impact of Mandatory Price Reporting Requirements on Level, Variability, and Elasticity Parameter Estimations for Retail Beef Prices

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  • Christine Lensing
  • Wayne D. Purcell

Abstract

Moving to scanner based and quantity-weighted monthly average retail beef price series has changed the price series significantly. Quantity-weighted price levels are lower and more volatile. Perhaps most important, calculated elasticities for the quantity-weighted averages are lower than for the historical simple average data. Elasticity estimates for simple average monthly price data are also larger than for weekly data, raising the possibility that historic demand analyses have significantly overstated own price demand elasticities. Copyright 2006, Oxford University Press.

Suggested Citation

  • Christine Lensing & Wayne D. Purcell, 2006. "Impact of Mandatory Price Reporting Requirements on Level, Variability, and Elasticity Parameter Estimations for Retail Beef Prices," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 28(2), pages 229-239.
    • Handle: RePEc:oup:revage:v:28:y:2006:i:2:p:229-239
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    File URL: http://hdl.handle.net/10.1111/j.1467-9353.2006.00283.x
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    Cited by:

    1. Beach, Robert H. & Zhen, Chen, 2008. "Consumer Purchasing Behavior in Response to Media Coverage of Avian Influenza," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6750, Southern Agricultural Economics Association.
    2. Schroeder, Ted C & Tonsor, Glynn T & Schulz, Lee L & Johnson, Bradley J & Sommers, Christopher, 2021. "USDA ERS Meat Price Spread Data Product Review," Contractor and Cooperator Reports 327349, United States Department of Agriculture, Economic Research Service.
    3. Shang, Xia & Tonsor, Glynn T., 2017. "Food safety recall effects across meat products and regions," Food Policy, Elsevier, vol. 69(C), pages 145-153.
    4. Taylor, Mykel R. & Tonsor, Glynn T., 2013. "Revealed Demand for Country-of-Origin Labeling of Meat in the United States," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 38(2), pages 1-13, August.
    5. Pozo, Veronica F. & Bachmeier, Lance J. & Schroeder, Ted C., 2021. "Are there price asymmetries in the U.S. beef market?," Journal of Commodity Markets, Elsevier, vol. 21(C).
    6. Christian Rojas & Alexandra Andino & Wayne D. Purcell, 2008. "Retailers' response to wholesale price changes: new evidence from scanner-based quantity-weighted beef prices," Agribusiness, John Wiley & Sons, Ltd., vol. 24(1), pages 1-15.
    7. Lee L. Schulz & Ted C. Schroeder & Tian Xia, 2012. "Studying composite demand using scanner data: the case of ground beef in the US," Agricultural Economics, International Association of Agricultural Economists, vol. 43, pages 49-57, November.
    8. Koontz Stephen R & Ward Clement E, 2011. "Livestock Mandatory Price Reporting: A Literature Review and Synthesis of Related Market Information Research," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 9(1), pages 1-33, July.

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