Journal Article

Market Delineation and Demand Structure

Frank Asche, Frode Steen and Kjell G. Salvanes

in American Journal of Agricultural Economics

Published on behalf of Agricultural and Applied Economics Association

Volume 79, issue 1, pages 139-150
Published in print February 1997 | ISSN: 0002-9092
Published online February 1997 | e-ISSN: 1467-8276 | DOI: https://dx.doi.org/10.2307/1243949
Market Delineation and Demand Structure

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  • Household Behaviour and Family Economics
  • Agricultural Economics
  • Market Structure, Firm Strategy, and Market Performance

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This paper addresses the relationship between the cointegration approach to market delineation and the more traditional approach of analyzing the demand structure among different products in terms of degree of substitutability. Cointegration tests for market delineation and estimation of a dynamic system of demand equations are undertaken utilizing the same data set. The data set consists of three high-quality seafood products in the European Union. The results are encouraging as the results from the two approaches are not only compatible, but are also complementary in the sense that they provide more information together than they do separately.

Keywords: cointegration; dynamic demand systems; error correction models; market delineation; D120; L110; Q130

Journal Article.  0 words. 

Subjects: Household Behaviour and Family Economics ; Agricultural Economics ; Market Structure, Firm Strategy, and Market Performance

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