농산물 가격 책정방식에 따른 소비자 잉여 비교분석 : 변동가격제 vs. 고정가격제Floating Prices vs. Fixed Prices : Which Price Policy is Better for Consumers?
- Other Titles
- Floating Prices vs. Fixed Prices : Which Price Policy is Better for Consumers?
- Authors
- 김치운; 양승룡
- Issue Date
- 2017
- Publisher
- 한국농식품정책학회
- Keywords
- Consumer Surplus; Price Volatility; Floating Prices; Fixed Prices
- Citation
- 농업경영.정책연구, v.44, no.2, pp.301 - 314
- Indexed
- KCI
- Journal Title
- 농업경영.정책연구
- Volume
- 44
- Number
- 2
- Start Page
- 301
- End Page
- 314
- URI
- https://scholar.korea.ac.kr/handle/2021.sw.korea/85281
- ISSN
- 1229-9154
- Abstract
- Consumer cooperatives usually adopt the fixed price policy for highly price volatile agricultural products. Economic theories suggest that consumers are better off when the market prices are high due to short supply or strong demand. However, consumers often complain about the fixed price policy when the market prices are low and stable. The objective of this study is to analyze which is more beneficial between floating pricing policy and fixed pricing policy for consumers in terms of the welfare perspective. For this, we conduct a Monte Carlo simulation and compare consumer surpluses from both pricing policies. The results show that the fixed prices provide higher welfare for consumers, as the economic theory suggests. The risk premium to accept the floating prices is estimated around 7 percent for the sample products. The results give some implications about the value of the government policies for price stability.
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Collections - College of Life Sciences and Biotechnology > Department of Food and Resource Economics > 1. Journal Articles
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