Synthesizing Econometric Evidence: The Case of Price Elasticity Estimates

Econometric estimates of the responsiveness of consumer demand to higher prices are often key ingredients for public policy research. We review the potential advantages and challenges of synthesizing econometric evidence on the price-responsiveness of consumer demand. Based on our expertise we mainly draw on examples of research on consumer demand for health-related goods, especially cigarettes. We argue that the overarching goal of research synthesis in this context is to provide policy-relevant evidence for broad brush conclusions. We propose two main criteria to select among research synthesis methods. We discuss how in principle and in current practice synthesis of research on the price-elasticity of smoking meets our proposed criteria. Although we point out challenges and limitations, we believe more work on research synthesis in this area will be productive and important.