Demand and choice elasticities for a separable product group
Demand elasticities are derived from choice elasticities for a separable group of close substitutes. The example shows that choice and ordinary elasticities are similar for minor group members but radically different for the dominant member.
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References listed on IDEAS
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- Hans Kremers & Peter Nijkamp & Piet Rietveld, 2000.
"A Meta-Analysis of Price Elasticities of Transport Demand in a General Equilibrium Framework,"
Tinbergen Institute Discussion Papers
00-060/3, Tinbergen Institute.
- Kremers, Hans & Nijkamp, Peter & Rietveld, Piet, 2002. "A meta-analysis of price elasticities of transport demand in a general equilibrium framework," Economic Modelling, Elsevier, vol. 19(3), pages 463-485, May.
- Kenneth Clements, 2006.
"Price Elasticities of Demand Are Minus One-half,"
Economics Discussion / Working Papers
06-14, The University of Western Australia, Department of Economics.
- Alain Carpentier & Hervé Guyomard, 2001. "Unconditional Elasticities in Two-Stage Demand Systems: An Approximate Solution," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(1), pages 222-229.
- Peter M. Guadagni & John D. C. Little, 2008. "A Logit Model of Brand Choice Calibrated on Scanner Data," Marketing Science, INFORMS, vol. 27(1), pages 29-48, 01-02.
- Pollak, Robert A, 1969. "Conditional Demand Functions and Consumption Theory," The Quarterly Journal of Economics, MIT Press, vol. 83(1), pages 60-78, February.
- David L. Edgerton, 1997. "Weak Separability and the Estimation of Elasticities in Multistage Demand Systems," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(1), pages 62-79.
- Brons, Martijn & Nijkamp, Peter & Pels, Eric & Rietveld, Piet, 2008. "A meta-analysis of the price elasticity of gasoline demand. A SUR approach," Energy Economics, Elsevier, vol. 30(5), pages 2105-2122, September.
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