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Some Observations on Interpreting Measured Demand Elasticities

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  • Lester V. Manderscheid

Abstract

The purpose of this paper is to relate some of the problems encountered in measuring price and income elasticities to the interpretation of these measurements. Since this material is familiar to the demand analyst, the paper is addressed to users of elasticities. It draws heavily on empirical literature in demand analysis to indicate the relationship of empirical procedures to interpretation of results. The discussion should aid users of elasticities in reconciling some of the diverse estimates of a particular elasticity and be of assistance in choosing a relevant elasticity for specific decisionmaking problems.

Suggested Citation

  • Lester V. Manderscheid, 1964. "Some Observations on Interpreting Measured Demand Elasticities," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 46(1), pages 128-136.
    • Handle: RePEc:oup:ajagec:v:46:y:1964:i:1:p:128-136.
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    File URL: http://hdl.handle.net/10.2307/1236477
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    Cited by:

    1. Cornell, Laurence D. & Sorenson, Vernon L., 1986. "Implications of Structural Change in U.S. Demand for Meat on U.S. Livestock and Grain Markets," Agricultural Economic Report Series 201355, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    2. Updaw, Nelson J., 1980. "A Model Of Weekly Price Discovery For Florida Celery: Comment," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 12(2), pages 1-2, December.
    3. Capps, Oral, Jr. & Schmitz, John D., 1991. "A Recognition Of Health And Nutrition Factors In Food Demand Analysis," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(1), pages 1-15, July.
    4. Oral Capps Jr. & Rodolfo M. Nayga Jr., 1990. "Effect of Length of Time on Measured Demand Elasticities: The Problem Revisited," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 38(3), pages 499-512, November.
    5. Tomek, William G. & Robinson, Kenneth L., 1977. "PART V. Agricultural Price Analysis and Outlook," AAEA Monographs, Agricultural and Applied Economics Association, number 337217, january.
    6. Ortmann, G. F., 1982. "Demand Analysis Of Vegetables And Subtropical Fruit In South Africa," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 21(2), October.

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