On the Consumer Value of Complementarity: A Benefit Function Approach
构建了互补性消费者价值的概念模型,并应用于渔业分析。基于效益函数测量互补性价值,对意大利鱼类消费的计量分析表明,短期需求存在替代关系,而中长期则出现互补性。
Abstract The article develops a conceptual model of the consumer value of complementarity and illustrates its usefulness in an application to fisheries. Complementarity arises when some goods have a positive effect on the marginal value of other goods. We propose a measurement of the value of complementarity based on the benefit function. Our econometric analysis of fish consumption in Italy examines these issues, with special attention given to dynamics. Our results show that, while short‐run fish demand is characterized by substitution relationships, complementarity does develop in the intermediate run and in the long run.