Future prospects for fish and fishery products
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This paper reports on a number of issues and approaches in demand analysis. The review highlights different ways of treating supply and illustrates that direct (ordinary) demand systems and inverse demand systems are both applied in the analysis of fish demand. Various aspects of aggregation are discussed, both across products and across households, and with regard to income distribution and geographic location. Examples of studies incorporating socio-demographic factors are quoted and the autho r discusses the issue of incorporating habit formation through dynamic models as well as the phenomenon of structural change. The author presents income/expenditure elasticities for fish obtained from a number of studies undertaken in Bangladesh and Indonesia. Finally, some issues regarding forecasting fish consumption and demand are discussed.