THE ESTIMATION OF PRICE ELASTICITIES FROM PANEL DATA

William T. Boehm and Joseph Havlicek

No 284108, 1975 Annual Meeting, August 10-13, Columbus, Ohio from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: The purpose of this paper is to call attention to the important role that the statistical model and the data source play in the determination of a numerical estimate of price response. Price "elasticities" are estimated from both time-series and cross-sectional viewpoints using the same data base and essentially the same method of estimation, ordinary least squares regression (OLS). In each case the data are organized in a slightly different manner. The results obtained are reasonable from a statistical point of view, and yet each set suggests vastly different policy implications.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 20
Date: 1975-08
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea75:284108

DOI: 10.22004/ag.econ.284108

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