| Variable |
Percentage Changes by model |
 |
Heterogenous
Quality
Model 1b |
Heterogenous
Quality
Model 2b |
Heterogenous
Quality
Model 3b |
|
| Percent Change in Endogenous Variables |
| Choice Retail Quantity |
4.146% |
4.892% |
3.850% |
| Select Retail Quantity |
3.300% |
1.914% |
3.850% |
| Choice Wholesale Quantity |
2.288% |
2.817% |
2.060% |
| Select Wholesale Quantity |
1.636% |
0.654% |
2.060% |
| Choice Farm Quantity |
1.256% |
1.664% |
1.065% |
| Select Farm Quantity |
0.711% |
-0.046% |
1.065% |
| Choice Retail Price |
3.244% |
3.623% |
3.125% |
| Select Retail Price |
2.905% |
2.201% |
3.125% |
| Choice Wholesale Price |
5.898% |
6.587% |
5.682% |
| Select Wholesale Price |
5.282% |
4.002% |
5.682% |
| Choice Farm Price |
7.372% |
8.234% |
7.103% |
| Select Farm Price |
6.603% |
5.002% |
7.103% |
|
Percent Change in Revenue at Farm Level
|
| Choice Beef |
8.721% |
10.035% |
8.244% |
| Select Beef |
7.361% |
4.953% |
8.244% |
| Total Revenue |
8.245% |
8.257% |
8.244% |
|
|
a Based on a 10% increase in consumers'
willingness-to-pay relative to initial price.
b Model 1 allows some heterogeneity in beef quality, Model 2 allows
greater heterogeneity in quality, while Model 3 assumes beef is
a homogenous good.
|
| Variable |
Percentage Changes by model |
|
Heterogenous
Quality
Model 1b |
Heterogenous
Quality
Model 2b |
Heterogenous
Quality
Model 3b |
|
| Premium Changes |
| Change in Retail Qualitya |
0.846% |
2.978% |
0.000% |
| Change in Wholesale Qualitya |
0.652% |
2.163% |
0.000% |
| Change in Farm Qualitya |
0.545% |
1.710% |
0.000% |
| Premium Changes |
| Change in Retail Premiuma |
0.338% |
1.422% |
0.000% |
| Change in Wholesale Premiuma |
0.615% |
2.586% |
0.000% |
| Change in Farm Premiuma |
0.769% |
3.232% |
0.000% |
|
a Statistics represent
the percent change in Choice quantity minus the percent change in
Select quantity..
b Statistics represent the percent change in Choice price
minus the percent change in Select price. |
