ISHS Acta Horticulturae 97: VI Symposium on Horticultural Economics
POOLING OF PANEL DATA REGARDING FRUIT AND VEGETABLES |
| Authors: | J. Vertessen, L. Muermans, J. Heyman |
| Abstract:
A number of studies have analysed household budgets in order to estimate demand characteristics. In most of these studies, based on time series of cross data, the basic assumption was that all individuals behave identically. This leads to applying ordinary least squares to pooled cross sectional data. This approach, however, creates a specification bias, if, as would be very likely, the individual behavior patterns are heterogeneous. One method of solving this problem is to apply the random coefficient regression (RCR) model to the data. Therefore the primary objective of this paper is to estimate a macro consumption function for different fruit and vegetables using a Random Coefficient Regressing (RCR) method on pooled panel data. A secondary objective is to determine the influence of size and composition of the household on the demand. | |
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