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dc.contributor.advisorBrown, Scotteng
dc.contributor.authorSong, Woo Jineng
dc.date.issued2011eng
dc.date.submitted2011 Springeng
dc.descriptionTitle from PDF of title page (University of Missouri--Columbia, viewed on October 22, 2012).eng
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.eng
dc.descriptionDissertation advisor: Dr. Scott Browneng
dc.descriptionIncludes bibliographical references.eng
dc.descriptionVita.eng
dc.descriptionPh.D. University of Missouri-Columbia, 2011.eng
dc.descriptionDissertations, Academic -- University of Missouri--Columbia -- Agricultural economics.eng
dc.description"May 2011"eng
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.eng
dc.format.extentvi, 114 pageseng
dc.identifier.oclc872561648eng
dc.identifier.otherSongW-101012-D6284eng
dc.identifier.urihttp://hdl.handle.net/10355/15815eng
dc.languageEnglisheng
dc.publisherUniversity of Missouri--Columbiaeng
dc.relation.ispartofcollectionUniversity of Missouri--Columbia. Graduate School. Theses and Dissertationseng
dc.subjectconsumer behavioreng
dc.subjectincome growtheng
dc.subjectmeat productseng
dc.subjectrelative priceeng
dc.titleConsumer behavior changes across income levels: meat market analysiseng
dc.typeThesiseng
thesis.degree.disciplineAgricultural economics (MU)eng
thesis.degree.grantorUniversity of Missouri--Columbiaeng
thesis.degree.levelDoctoraleng
thesis.degree.namePh. D.eng


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