英文摘要 |
This study applies the first order differential approximation approach to specify an inverse demand system model. To narrow the gap between demand theory and empirical application and to provide greater statistical efficiency to the estimated demand parameters, properties including homogeneity, symmetry, Cournot aggregation and scale aggregation were incorporated into the empirical model.The study divides vegetables into five categories, namely root vegetables, stem vegetables, leafy vegetables, fruit vegetables and others. The daily time series data of volumes and prices were obtained from the statistics of Taipei fruit and vegetable auction market in 2000. The iterative seemly unrelated regression method was used to estimate the parameters.Both the compensated self-quantity elasticity and scale elasticity of each vegetable category were negative, which were consistent not only with the theoretical requirement but also with the general expectation. The signs of compensated cross-quantity elasticity were mixed, which revealed that there existed the complement and substitute relationships between different pairs of vegetables.All the uncompensated self and cross quantity elasticity were negative. Meanwhile, the absolute value of self-quantity elasticity of leafy vegetables was the highest and that of root vegetables was the lowest. This result is consistent with the viewpoint that consumers in Taiwan prefer leafy vegetables to root vegetables. Furthermore, the absolute value of the uncompensated cross-quantity elasticity of each vegetables with respect to root vegetables were very low, indicating that stocks of root vegetables will not be effective in depressing the sharp rise in price of other vegetables during the typhoon season. |