The Farmer as Service Provider: The demand for agricultural commodities and equine services

Bailey, Alastair and Williams, N and Palmer, Michael J. and Geering, R (2000) The Farmer as Service Provider: The demand for agricultural commodities and equine services. Agricultural Systems, 66 (3). pp. 191-204. ISSN 0308-521X. (The full text of this publication is not available from this repository)

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Official URL
http://dx.doi.org/10.1016/S0308-521X(00)00047-0

Abstract

In recent years there has been much interest in alternative sources of income for farmers. This is because economic theory suggests that demand for agricultural commodities is inelastic so that, as incomes in society as a whole increase, those of farmers do not necessarily keep pace — hence the current problems with falling real farm incomes. In contrast the demand for services is relatively elastic. Thus it is logical to divert agricultural resources into service provision. One such service is provided by equine enterprises. We have estimated the own price and income elasticities of demand for selected agricultural commodities and for ‘equine services’. Our results confirm that demand for equine services is more elastic than for agricultural commodities. Thus diversification into horse enterprises is likely to have long term benefits for farmers vis á vis traditional agricultural production.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculties > Social Sciences > Kent Business School > Agri-Environment Economics
Faculties > Social Sciences > Kent Business School
Depositing User: Alastair Bailey
Date Deposited: 26 May 2009 21:04
Last Modified: 15 Apr 2014 15:19
Resource URI: http://kar.kent.ac.uk/id/eprint/8194 (The current URI for this page, for reference purposes)
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