A Count-Discrete-Continuous Model Analysis of Pork Purchasing Behavior of Korea Consumers
2014
Kwon, O.S., Seoul National University, Seoul, Republic of Korea | Kang, H.J., Chonnam National University, Gwangju, Republic of Korea | Seo, J.S., Chonnam National University, Gwangju, Republic of Korea | Cho, Y.B., Rural Development Administration, Jeonju, Republic of Korea
This study estimates household is demand for fresh pork cuts using a micro consumption data set in Korea. The choices for purchasing cut (=what), purchasing amount (=how much), and purchasing frequency (=how often) are modelled as interrelated discrete, continuous and count data choice behaviors, respectively. The short-run and long-run own and cross price elasticities are estimated, and the impacts of household characteristics are also analyzed. It is found that each cut has quite substantial cross as well as own price elasticity. The demand for belly which is the most popular cut in Korea is relatively inelastic in its own price change, but its impact on demand for other cuts is very high. Several cuts are normal while the others are inferior. Household size, age, family composition, housing type, purchasing season and time affect all the three interrelated choices. Our model is not based on a single coherent utility maximization process, but is more flexible than the popular marketing science research models based on the Hanemann is dis-crete-continuous model.
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