An Inverse Almost Ideal Demand System for Mussels in Europe

Nguyen Tien Thong

doi:10.5950/0738-1360-27.2.149

An Inverse Almost Ideal Demand System for Mussels in Europe

Nguyen Tien Thong^*

^*Corresponding author for this work

University of Southern Denmark

Research output: Contribution to journal › Journal article › Research › peer-review

Abstract

This study used monthly data on ex-farm prices and quantities of mussels from five major mussel-producing countries in Europe to estimate a nonlinear Inverse Almost Ideal Demand System (IAIDS). The model specification fits well with monthly data from 2002-2008. Uncompensated own-price flexibilities for farmed mussels from Spain, France, Italy, and the Netherlands are inflexible, while demand for Denmark's wild stock mussels is flexible. Dutch mussels are deemed a luxury food, while preferences for mussels from other countries appear independent of the level of total expenditure (i.e., homothetic preferences). The results also show weak substitution relationships between mussels from these countries.

Original language	English
Journal	Marine Resource Economics
Volume	27
Issue number	2
Pages (from-to)	149-164
Number of pages	16
ISSN	0738-1360
DOIs	https://doi.org/10.5950/0738-1360-27.2.149
Publication status	Published - Jun 2012
Externally published	Yes

Keywords

Mussels
Inverse demand
Nonlinear IAIDS
Flexibility
Europe

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Cite this

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title = "An Inverse Almost Ideal Demand System for Mussels in Europe",

abstract = "This study used monthly data on ex-farm prices and quantities of mussels from five major mussel-producing countries in Europe to estimate a nonlinear Inverse Almost Ideal Demand System (IAIDS). The model specification fits well with monthly data from 2002-2008. Uncompensated own-price flexibilities for farmed mussels from Spain, France, Italy, and the Netherlands are inflexible, while demand for Denmark's wild stock mussels is flexible. Dutch mussels are deemed a luxury food, while preferences for mussels from other countries appear independent of the level of total expenditure (i.e., homothetic preferences). The results also show weak substitution relationships between mussels from these countries.",

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AB - This study used monthly data on ex-farm prices and quantities of mussels from five major mussel-producing countries in Europe to estimate a nonlinear Inverse Almost Ideal Demand System (IAIDS). The model specification fits well with monthly data from 2002-2008. Uncompensated own-price flexibilities for farmed mussels from Spain, France, Italy, and the Netherlands are inflexible, while demand for Denmark's wild stock mussels is flexible. Dutch mussels are deemed a luxury food, while preferences for mussels from other countries appear independent of the level of total expenditure (i.e., homothetic preferences). The results also show weak substitution relationships between mussels from these countries.

KW - Mussels

KW - Inverse demand

KW - Nonlinear IAIDS

KW - Flexibility

KW - Europe

KW - Mussels

KW - Inverse demand

KW - Nonlinear IAIDS

KW - Flexibility

KW - Europe

U2 - 10.5950/0738-1360-27.2.149

DO - 10.5950/0738-1360-27.2.149

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SN - 0738-1360

VL - 27

SP - 149

EP - 164

JO - Marine Resource Economics

JF - Marine Resource Economics

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