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	Author	Bailey, A.; Williams, N.; Palmer, M.; Geering, R.
	Title	The farmer as service provider: the demand for agricultural commodities and equine services			Type	Journal Article
	Year	2000	Publication	Agricultural Systems	Abbreviated Journal
	Volume	66	Issue	3	Pages	191-204
	Keywords	Income and price elasticity of demand; Farm diversification; Horses
	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.
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	Publisher		Place of Publication		Editor
	Language		Summary Language		Original Title
	Series Editor		Series Title		Abbreviated Series Title
	Series Volume		Series Issue		Edition
	ISSN	0308-521x	ISBN		Medium
	Area		Expedition		Conference
	Notes				Approved	no
	Call Number	Equine Behaviour @ team @			Serial	5713
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