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Estimating Interrelated Demands for Meats Using New Measures for Ground and Table Cut Beef
Author(s) -
Brester Gary. W.,
Wohlgenant Michael K.
Publication year - 1991
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1242446
Subject(s) - table (database) , multivariate statistics , test (biology) , econometrics , statistics , mathematics , computer science , ecology , data mining , biology
Two systems of demand equations for meats ate estimated using traditional and new measures of ground and table cut beef. The choice of disaggregation has a significant impact on estimated demand elasticities for hamburger and table cuts. A multivariate version of the P E ‐test is used as a nonnested test of the alternative specifications. The P E ‐test is an appropriate nonnested specification test when the models in question have different (but related) dependent variables. The P E ‐test rejects the nonfed beef model specification but does not reject the ground beef model, which uses the new measures of ground and table cut beef.