Acronym NA
Category
Seafood Processing
Title Baseline Torsk - Prismodell - Baseline Cod - Pricing Model Programme National Programme
Instrument (FP6)
Contact Type (FP7)
Strand (Interreg)
NA
Theme (FP7)
Activity Area (FP6)
Regional Area (Interreg)
Action (COST)
NA
Specific Programme (FP7)
NA
Funding source National Coordinator Øystein Myrland Coordinator email oystein.myrland@nfh.uit.no
Coordinator institution
UiT - The Arctic University of Norway (Norway)
Institutions involved
NA
Start year 2012 End year 2016 Funding (€) € 180,645 Website https://prosjektbanken.forskningsradet.no/en/project/FORISS/219025?Kilde=FORISS&distribution=Ar&chart=bar&calcType=funding&Sprak=no&sortBy=date&sortOrder=desc&resultCount=30&offset=0&Fag.3=%C3%98konometri Summary In this project, research will be carried out within price and market analysis in the global cod market. Supply and demand are what determine the price in the market. The aim of this project is to develop and generalize a stochastic version of a partial equilibrium model, or EDM (Equilibrium Displacement Model). The EDM model will be used to model global production, trade and price formation for cod. In recent years, this model has been widely used in research and marketing analysis. The new model needs a basic equilibrium price, quantity data and "Marshall" elasticities. These elasticities are derived from demand and supply analyzes.
In demand analyzes, it is mainly the Rotterdam and AIDS "Almost ideal demand system" models that have been used. Both models are specified in terms of budget shares, and the summary property is imposed on the models automatically. In the Rotterdam model, symmetry and the homogeneity restrictions, derived from consumer theory, can be expressed as linear functions of the estimated parameters. They can also be imposed on the model, so that it becomes theoretically consistent. In the AIDS model, these restrictions can either be tested or imposed on the model. There are no clear criteria for choosing between the Rotterdam and AIDS model. Often there will be an empirical question about which model best suits the underlying data.
In offer analyzes, there are several possible approaches. In this project, a translog cost function will be estimated at the same time as cost-share equations for different cod products in a system, with theoretical restrictions. Based on these estimated values, it will be possible to calculate the supply elasticity of the various products. Based on these elasticities and the quantity shares of the various products, a total elasticity is calculated for the supply of cod.
Keywords
Fish products;
Economy;
Fish;
Market;
Cod;
Marine Region
76
Not associated to marine areas
0
Marine Region Map
