Determinants of demand for farm dairy products
| Author: | Bc. Barbora Jakubová |
|---|---|
| Year: | 2020 - summer |
| Leaders: | Ing. Mgr. Šarlota Smutná, MSc. |
| Consultants: | |
| Work type: | Bachelors |
| Language: | English |
| Pages: | 50 |
| Awards and prizes: | |
| Link: | https://is.cuni.cz/webapps/zzp/detail/214017/ |
| 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 found. 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. |
