Using urban household-level survey data from 1992 to 1998, we provide estimates of final demand for edible vegetable oils and animal fats in three regions of China based on the LinQuad incomplete demand system. For each region, the demand for the major “staple” oil is price inelastic. The demand for “condiment” or flavoring oils is more price responsive. All edible oils and fats have positive i...

Farming of animals and plants has recently been considered not merely as a more efficient and plentiful supply of their products but also as a means of protecting wild populations from that trade. Amongst these nascent farming products might be listed bear bile. Bear bile has been exploited by traditional Chinese medicinalists for millennia. Since the 1980s consumers have had the options of: il...

The e-book market has been rapidly growing in recent years due to developments in technology and the widespread use of mobile devices such as smart phones and tablet PCs. Although an e-book serves as a nearly perfect substitute for its corresponding paper book in respect of contents, it has many differences regarding cost structure and consumers’ acceptance. Therefore, setting an appropriate pr...

We adopt the optimization framework for rate allocation problem proposed by Kelly and characterize the stability condition with arbitrary communication delay. We demonstrate that there is a fundamental trade-off between the price elasticity of demand of users and responsiveness of the resources through a choice of price function as well as between the system stability and resource utilization.

This paper uses fare changes in Mexico City, Guadalajara, and Monterrey to estimate the price elasticity of demand for urban rail transit. In two cases there is a significant increase (30%+), third 60-day holiday. Ridership responds sharply expected direction all three cities, implying elasticities which range across cities from −.23 −0.32. addition, suggestive evidence that temporary holiday l...