Abstract
Fresh agricultural products, i.e., fruits and vegetables, originate in nature and therefore the value (price) of each product differs. For such non-uniform products, traditional price elasticity based on the sales amount does not indicate tendencies in demand. In this paper, we focus on shelf time defined as the period between shelf arrival and departure. We propose an elasticity of demand based on shelf time as an alternative indicator of demand. The elasticity is represented in terms of the relationship between price and shelf time, and is expected to be a positive value because shelf time increases as price increases. To clarify the relationship, we extend an information system for an existing farmers' market to record times of both arrival and sales. One-year practical operation at the market, we collect and analyze data on shelf time. We show the relationship between shelf time and price for several products and discuss the existence of the elasticity. Conditions needed to clarify the elasticity are also discussed in relation to farmers' markets.
