Generalized Models of Japanese Demand for Fish
用马歇尔需求系统和逆需求系统建模日本鱼类消费,发现逆需求系统预测更准,且价格对消费变化不敏感。
Abstract Given a relative lack of knowledge about Japanese consumer preferences for fish, Japanese fish demand is modeled using both Marshallian (ordinary) and inverse demand systems, each of which nests a number of competing specifications. Results indicate that the inverse demand systems dominate the ordinary demand systems in forecasting performance and in nonnested tests. The inverse system suggests that Japanese fish prices are less responsive to changes in consumption than found in previous studies.