Agricultural Economics (Amsterdam, Netherlands), This paper tests for the influence of advertising on the inter-product distribution of consumer demand for non-durable goods and services in the UK, 1963–1996. The long-run demand for seven categories of non-durable products is modelled through an advertising-augmented version of the almost ideal demand system (AIDS), which is incorporated into an error-correction model to allow for short-run dynamic adjustments to long-run equilibrium positions. Model estimates confirm that the restrictions of price homogeneity and symmetry appear to be consistent with the data, yield measures of the various types of demand elasticity that are in general plausible, confirm the strong influence of prices on the allocation of consumer expenditure, but find little evidence to support the hypothesis that advertising has the power to effect marked changes in the inter-product pattern of consumer demand in the UK.
Agricultural Communications Documentation Center, Funk Library, University of Illinois Document Number: C25317
Notes:
Pages 179-196 in Angelique Haugerud, M. Priscilla Stone and Peter D. Little (eds.), Commodities and globalization: anthropological perspectives. Rowman and Littlefield Publishers, Lanham, Maryland. 249 pages.
Kennedy, P. Lynn (author) and Garcia-Fuentes, Pablo A. (author)
Format:
Paper
Publication Date:
2017
Published:
USA
Location:
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 166 Document Number: D11671
Notes:
13 pages., Paper presented at the Southern Agricultural Economics Association annual meeting, Mobile, Alabama, February 4-7, 2017., Researchers analyzed the market of high fructose corn syrup (HFCS) in the United States and its linkages with the soft drink market. Results showed that soft drinks are the main driver behind the growing demand for HFCS. Also, negative news on HFCS had a negative effect on the growth of demand for soft drinks. However, per capita advertising on soft drinks had a positive effect on the growth of demand for soft drinks and more than offset the effect of negative news.
