Quantity of Beer Demanded in Ontario and its Relationship with the Price of Wine in Ontario Free Essay, Term Paper and Book Report
Most papers surrounding the issue of alcohol demand focus on the control of alcohol consumption through increased taxes and less advertising. These studies are useful nonetheless because they provide this research paper with data for wine, beer, and alcohol consumption as well as price and income elasticities. The question this report is trying to ask is how efficient is beer as a substitute for wine?
The hypothesis is that any increase in the price of wine, all else the same, will increase the demand for beer. Looking at price elasticities for beer and wine suggests an estimate of substitutability. Therefore the hypothesis is that wine is price elastic, which means that if the price of wine rises, there will be a large decrease in the quantity consumed. Out of all the research that I have collected, there was little variation in the type of demand models that were used. Most researchers used the Almost Ideal Demand System (AIDS), however other methods such as the Error Correction Method (ECM) were employed.
The belief that beer is a good substitute for wine is contradicted ......
Word Count: 994
Page Count: 3.9 (250 words a page / double spaced)
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