| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5061968 | Economics Letters | 2008 | 4 Pages |
Abstract
As an empirical regularity for broad groups, price elasticities of demand are scattered around minus one-half, a result not inconsistent with preference independence. When nothing is known about the price-sensitivity of a good, a reasonable first approximation to its price elasticity is minus one-half.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Kenneth W. Clements,