Modeling Consumption with Limited Dependent Variables: Applications to Pork and Cheese
| dc.creator | Yen, Steven T. | |
| dc.creator | Jensen, Helen H. | |
| dc.date | 2017-04-01T18:54:24Z | |
| dc.date.accessioned | 2026-07-09T03:25:11Z | |
| dc.description | The double-hurdle and infrequency-of-purchase models are applied to pork and cheese consumption using the 1987-88 Nationwide Food Consumption Survey data. The models are generalized with the inverse hyperbolic sine transformation in the dependent variable, and this transformation results in a more flexible parameterization and error distribution than the untransformed models. Nonnested LR tests suggest that the IHS double-hurdle model provides better characterization of the data-generating process in household pork consumption than the IHS infrequency-of-purchase model but the elasticities derived from these models are similar. For household cheese consumption, the two models fit the data equally well. The IHS double-hurdle model and the IHS infrequency-of-purchase model generate very similar elasticities. Own-price effects on the probability and level of consumption are negative and significant for both pork and cheese, while income and cross-price effects are not significant. Household age composition, education, gender of meal planner, and race are among the demographic variables that affect consumption. | |
| dc.identifier | doi:10.22004/ag.econ.18682 | |
| dc.identifier | https://ageconsearch.umn.edu/record/18682/files/sr950076.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/18682 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/532212 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/18682 | |
| dc.title | Modeling Consumption with Limited Dependent Variables: Applications to Pork and Cheese | |
| dc.type | Text |