Palgrave Textbooks in Agricultural Economics and Food Policy

Market Interrelationships and Applied Demand Analysis

Bridging the Gap Between Theory and Empirics in Commodities Markets

Authors: Wohlgenant, Michael

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  • Addresses the core issues facing economists concerning price determination in commodity markets
  • Provides a thorough and unified treatment of important concepts related to demand in a single source
  • Uses several data sets to bridge the gap between theory and empirical analysis
  • Contains exercises at the end of each chapter
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eBook $59.99
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  • ISBN 978-3-030-73144-1
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Softcover $74.99
price for Brazil
  • ISBN 978-3-030-73143-4
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About this Textbook

This textbook addresses the core issues facing economists concerning price determination in commodity markets, especially food and agricultural commodities. This book hones in on the conceptual basis of the various relationships, with special emphasis on market interrelationships, both horizontally and vertically. This book covers key concepts such as consumer demand theory; quality, heterogeneous goods, and cross section demand; derived demand, marketing margins, and relationship between output and raw material prices; retail-to-farm demand linkages, imperfect competition, and short-run price determination; dynamic consumer demand; and dynamic models of the firm.
What makes this textbook of particular use to students is its focus on bridging the gap between theory and empirical analysis. Going from theory to empirics requires that we have data—time series or cross section—that match the theoretical constructs. Often the data match is not perfect, either by definition or how the data are computed. In addition to problems of matching data with theoretical constructs, students and researchers need to know how to specify, estimate, and interpret results within the context of imperfect and often incomplete data. This textbook uses several data sets to illustrate how one might address problems in real-world settings. Furthermore, with exercises at the end of each chapter, students are able to test themselves on their ability to bring theory to life.

About the authors

Michael K. Wohlgenant is the William Neals Reynolds Distinguished Professor Emeritus at North Carolina State University, USA.

Table of contents (10 chapters)

Table of contents (10 chapters)

Buy this book

eBook $59.99
price for Brazil
  • ISBN 978-3-030-73144-1
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $74.99
price for Brazil
  • ISBN 978-3-030-73143-4
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Covid-19 shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
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Bibliographic Information

Bibliographic Information
Book Title
Market Interrelationships and Applied Demand Analysis
Book Subtitle
Bridging the Gap Between Theory and Empirics in Commodities Markets
Authors
Series Title
Palgrave Textbooks in Agricultural Economics and Food Policy
Copyright
2021
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG
eBook ISBN
978-3-030-73144-1
DOI
10.1007/978-3-030-73144-1
Softcover ISBN
978-3-030-73143-4
Series ISSN
2662-5474
Edition Number
1
Number of Pages
XVI, 230
Number of Illustrations
2 b/w illustrations, 1 illustrations in colour
Topics