[-] Show simple item record

dc.contributor.advisorBrown, Scotten_US
dc.contributor.authorSong, Woo Jin
dc.date.issued2011
dc.date.submitted2011 Springen_US
dc.descriptionTitle from PDF of title page (University of Missouri--Columbia, viewed on October 22, 2012).en_US
dc.descriptionThe entire thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file; a non-technical public abstract appears in the public.pdf file.en_US
dc.descriptionDissertation advisor: Dr. Scott Brownen_US
dc.descriptionIncludes bibliographical references.en_US
dc.descriptionVita.en_US
dc.descriptionPh.D. University of Missouri-Columbia, 2011.en_US
dc.descriptionDissertations, Academic -- University of Missouri--Columbia -- Agricultural economics.en_US
dc.description"May 2011"en_US
dc.description.abstractThis study intends to test how consumer behavior changes across income levels using time series data of the meat markets in Korea and the U.S. An income growth is one of the most significant and powerful trends in the modern economy and expected to continue its trend in the future. So finding relationships between income growth and consumer behavior can offer a higher level of understanding of both the current and future demand. Three relationships are found in the Korean and American meat market: (1) Since meat products are more desirable, even though meat is more expensive than other food, substitution of meat for grain appears to occur at a low income level. As a consequence, they have a property of being luxury goods when income is low and eventually become a necessity as income rises. (2) As income growth occurs, it makes the relative price and the expenditure share for meat to become smaller. These diminished prices and shares are likely to make consumers feel less sensitive to changes in price or income. As a result, price and income elasticities become smaller in absolute value as income rises. (3) Consumption is expanded as income rises and this expansion follows the order of urgency. A good on the expansion frontier faces severe competition in terms of the marginal utility. As a result, a good for which demand increases with incomes has a high possibility to maintain its elasticities even though income rises.en_US
dc.format.extentvi, 114 pagesen_US
dc.identifier.otherSongW-101012-D6284
dc.identifier.urihttp://hdl.handle.net/10355/15815
dc.publisherUniversity of Missouri--Columbiaen_US
dc.relation.ispartofcollection2011 Freely available dissertations (MU)
dc.relation.ispartofcommunityUniversity of Missouri-Columbia. Graduate School. Theses and Dissertations. Dissertations. 2011 Dissertations
dc.subjectconsumer behavioren_US
dc.subjectincome growthen_US
dc.subjectmeat productsen_US
dc.subjectrelative priceen_US
dc.titleConsumer behavior changes across income levels: meat market analysisen_US
dc.typeThesisen_US
thesis.degree.disciplineAgricultural economics (MU)eng
thesis.degree.grantorUniversity of Missouri--Columbiaeng
thesis.degree.levelDoctoralen_US
thesis.degree.namePh. D.en_US


Files in this item

[PDF]
[PDF]
[PDF]

This item appears in the following Collection(s)

[-] Show simple item record