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Impacts of Sample Size and Quality-Adjusted Imputed Prices on Own-Price Elasticities Estimated Using Cross-Sectional Data

Published online by Cambridge University Press:  28 April 2015

Matthew C. Stockton
Matthew C. Stockton*
Affiliation:
Department of Agricultural Economics, Texas A&M University, College Station, TX
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Abstract

Cross-sectional data sets containing expenditure and quantity information are typically used to calculate quality-adjusted imputed prices. Do sample size and quality adjustment of price statistically alter estimates for own-price elasticities? This paper employs a data set pertaining to three food categories—pork, cheese, and food away from home—with four sample sizes for each food category. Twelve sample sizes were used for both adjusted and unadjusted prices to derive elasticities. No statistical differences were found between own-price elasticities among sample sizes. However, elasticities that were based on adjusted price imputations were significantly different from those that were based on unadjusted prices.

Keywords

cross-sectional dataimputed pricesquality-adjusted pricesB41D12C21C24
Type
Graduate Student Paper Awards
Information
Journal of Agricultural and Applied Economics , Volume 35 , Issue 2 , August 2003 , pp. 415 - 421
Copyright
Copyright © Southern Agricultural Economics Association 2003

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