The Retail Demand for Demersal Fresh Fish in Great Britain
A three-stage demand model using a nested family of differential demand systems is tested and estimated from time series data of meat, fish and fish products in the UK.
Year of Publication2004
Over the past 20 years, the demand for fish has changed markedly. The species prevalent in the consumption mix has altered to reflect the greater availability of farmed species such as salmon, and the decline in some of the more common marine-caught demersal species such as cod. This paper examines the retail demand for fish in the Great Britain, focusing on fresh demersal fish species. A three-stage demand model using a nested family of differential demand systems is tested and estimated from time series data of meat, fish and fish products in the UK. Both conditional and unconditional expenditure, own and cross price elasticities of demand are derived from the parameter estimates. There is strong evidence of between species interaction in consumption, both as substitutes and complements, justifying the demand system approach to analysis. Differences between conditional and unconditional elasticities suggest that consumers make decisions on the basis of aggregate fish groups and only then select amongst the individual categories or species on the basis of price.
This item is categorised as follows
- Subject Collection > Business > Marketing & product development
- Subject Collection > Food & drink > Food & drink supply chains
Additional keywords/tagsretail demandfishconditional and unconditional elasticitiesdifferential demand systems
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