Determinants of demand for farm dairy products
|Author:||Bc. Barbora Jakubová|
|Year:||2020 - summer|
|Leaders:|| Ing. Mgr. Šarlota Smutná, MSc.
|Work type:|| Bachelors
|Awards and prizes:|
|Abstract:||This bachelor thesis aims to describe the demand for farm dairy products. Based
on data gathered from two specific interconnected projects of one local farm, the
analysis consists of a model for estimating own-price elasticity of the demand as
well as models for determining characteristics of farm-food buyers. Using time
series data and the OLS regression, the demand was estimated to be elastic for
butter, curd, milk and inelastic for yoghurt. No significant relationship between
sales of local products and general consumer trends in the Czech Republic was
Cross-sectional data containing 373 observations were employed in probit models to explore which factors significantly influence being a local farm food buyer
and purchasing specific products. Results reveal that women living in Prague
primarily buying local and organic food are the dominant group of customers.
However, the effect of most other factors varies across estimated models.