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عنوان فارسی مقاله:
یک مثال ساده برای آموزش تئوری تقاضا: برآورد تقاضای کل برای پیاز در هند
عنوان انگلیسی مقاله:
A simple example for the teaching of demand theory: Aggregate demand estimation for onions in India
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مقدمه انگلیسی مقاله:
1. Introduction
The theory of demand and supply is a cornerstone of microeconomics. The idea that the price of a commodity lies at the intersection of its supply and demand curves is central to the teaching of managerial economics (Salvatore & Srivastava, 2008). As per theory, production decisions of a firm are based on the customers’ demand curve, which is again dependent on the market structure and the price elasticity of demand for a particular product. But how can we empirically estimate the demand for a certain commodity? The literature on demand estimation deals with systems of equations that try to include all the variables that might affect the demand for a commodity (Deaton & Muellbauer, 1980). At high levels of aggregation one estimates demand for food vs non-food commodities. When dealing with demand for food items, one accounts for different food categories such as cereals, meat and fish, eggs, dairy, vegetables, fruits and nuts, etc. (Green & Alston, 1990). Such regression models however are too complicated to be introduced to students encountering both economics and statistics for the first time. For example, Chen (1977) has dealt with 23 simultaneous equations in a complicated statistical model. Understanding the implications of such models or replicating their estimation procedure is beyond the scope of the typical introductory managerial economics course. With this motivation, a teacher of managerial economics might ask, “Is there a straightforward case of demand estimation from real data, of a single commodity, that one can use as a classroom example?” In this paper we set out to estimate the aggregate national demand curve for onions. Our interest in onions was spurred by two factors: one was the tremendous rise in onion prices observed from time to time; the second was the fact that onions are a commodity for which there are no close substitutes and therefore they can possibly be studied as a single commodity demand system. The typical features of the onion market have been described in greater detail in a later section.
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کلمات کلیدی:
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