Published Dec 2, 2013



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Hernando Barrera-Valencia

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Abstract
In this article, we apply various econometric methods to estimate the demand function observed in the three main meat markets in Colombia (beef, pork and poultry). To construct these functions, price indexes were considered as independent variables (p1, p2, p3, p4, p5,) and Household Consumption (HC) as a proxy for a wealth variable. With this information, the Marshallian demand functions are built for type Xi = f (p1, p2, p3, p4, p5, HC), which can help develop simple demand models and systems of equations. By verifying the assumptions made in accordance with the R2 statistics, Durbin-Watson and economic theories, conclusions point out that the model with the Linear Approximation to Almost Ideal Demand System (AL-AIDS) meets the expected statistical and economic theory outcomes, becoming the best alternative to show the behavior of the meat market in Colombia. Based on the AIDS model results, these goods can be classified as normal goods as well. Finally, to calculate the different elasticities during the analysis period (2000-2007) for each meat market in question, substitution and complementarity relations between the goods studied and the income elasticity based on HC were identified.
Keywords

fonction de demande de viande, élasticité, approche linéaire du système de demande presque parfait, marché de la viande en Colombie.función de demanda en carnes, elasticidad, aproximación lineal al sistema de demanda casi ideal, mercado cárnico en ColombiaIn Meat Demand Function, Elasticity, Linear Aproximation to Almost Idel Demand System, Meat Markets in Colombia

References
How to Cite
Barrera-Valencia, H. (2013). Observed Demand Function of the Meat Market in Colombia 2000 – 2007: Comparative Results Analysis of Several Econometric Models. Revista De La Maestría En Derecho Económico, 6(6), 179–220. Retrieved from https://revistas.javeriana.edu.co/index.php/revmaescom/article/view/7171
Section
Artículos