Date of Award

Winter 12-1998

Document Type

Thesis

Degree Name

Honors College Theses

Department

Agricultural Economics

Second Advisor

Dr. Joyce W. O'Rourke

Third Advisor

Dr. Beverly Wade

Abstract

The following study examines the trend in the demand for pork over the years from 1966 to 1996. The effect of pork price is used to quantitatively determine own-price influence in pork demand. The price of beef and chicken are used to measure the effects of these known substitutes on the demand for pork. Bread price is used as a complementary influence on pork demand. Finally, income and tastes and preferences are used to quantitatively measure their respective influence on the consumption of pork meat. Results showed that out of the prices of pork, 6eef, chicken, and bread; income; and preferences, only pork prices and preferences statistically significantly influence pork demand. Collectively, all of the aforementioned variables influence pork demand. Further, log-linear regression analysis reveals demand elasticities inconsistent with theory because of strong preferences. Pointedly calculated elasticities reveal that: ~ consumers barely respond to pork price changes, ~ beef and chicken are not clear substitutes, and ~ pork is a normal good. Producers would benefit by advertising possible health benefits of eating pork.

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