A Further Look at Flexibilities and Elasticities

Kuo Huang

American Journal of Agricultural Economics, 1994, vol. 76, issue 2, 313-317

Abstract: Relationships between price elasticities and price flexibilities are examined, with emphasis on comparing sizes of difference between a directly estimated demand matrix and an inverted demand matrix. Results show that by using inverted elasticities to represent flexibilities or vice versa, sizable measurement errors may be committed. In agricultural policy and program analysis, a directly estimated demand matrix should be used.

Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:76:y:1994:i:2:p:313-317.

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