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Demand System Analysis of the South Korean Beef Market with the Free Trade Demand Model

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  • Lee, Young-Jae
  • Kennedy, P. Lynn

Abstract

In this study a demand system analysis for beef in South Korea is constructed. A free trade demand system was used in which the economic welfare of market participants are maximized. Recognizing implicit discrimination about non-locally sourced beef products, this study deduces market demand equations with respect to consumer preference in order to identify the marginal effect of change consumer preference has on market demand.

Suggested Citation

  • Lee, Young-Jae & Kennedy, P. Lynn, 2008. "Demand System Analysis of the South Korean Beef Market with the Free Trade Demand Model," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6825, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saeaed:6825
    DOI: 10.22004/ag.econ.6825
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    References listed on IDEAS

    as
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    4. McGuirk, Anya M. & Driscoll, Paul J. & Alwang, Jeffrey Roger & Huang, Huilin, 1995. "System Misspecification Testing And Structural Change In The Demand For Meats," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(1), pages 1-21, July.
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    6. John D. Jackson, 1997. "Effects of Health Information and Generic Advertising on U.S. Meat Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(1), pages 13-23.
    7. Kuo S. Huang, 1996. "A Further Look at Flexibilities and Elasticities: Reply," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(4), pages 1130-1131.
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