Income and price elasticity of demand quantify the responsiveness of markets to changes in income and in prices, respectively. Under the assumptions of utility maximization and preference independence (additive preferences), mathematical relationships between income elasticity values and the uncompensated own and cross price elasticity of demand are here derived using the differential approach ...

Supply equations for sawlog and pulpwood were developed with a panel of data from 102 Norwegian municipalities, observed from 1980 to 2000. Static and dynamic models were estimated by cross-section. time-series and panel data methods. A static model estimated by first differencing gave the best overall results in terms of theoretical expectations, pattern or residuals. prediction accuracy and p...

implementation of effective input policies and technology consistent with production structure contributes to the economic use of the production. understanding the price elasticity of input and relationship between inputs in the agricultural sector is helpful in choosing appropriate input policy. in this study we examine the production structure of pistachio in damghan. to achieve the goal, tra...

abstract in order to evaluation the effects of price policies (wheat guarantee price in each period and its price lag), environmental (planted area) and climatic (min and max average temperature, total annual precipitation, cold-day degree and hot-day degree) factors, we considered wheat yield in razavi-khorasan province (9 cities) for a 13-year statistical period (1371-72 to 1383-84). in this ...

The “neoclassical synthesis” sticky price model exhibits strange behavior when augmented with markets for durable goods with flexible prices. While in the data the output of durable goods responds strongly and positively to a loosening of monetary policy, in dynamic general equilibrium models a monetary expansion causes the output of flexibly priced durables to contract. In an instructive speci...

M literature has long recognized that brand price elasticity need not be monotonic and symmetric, but has yet to provide generalizable market-level insights on threshold-based price elasticity, asymmetric thresholds, and the sign and magnitude of elasticity transitions. This paper introduces smooth transition regression models to study threshold-based price elasticity of the top 4 brands across...

In this paper, the price elasticity of electricity demand, representing the sensitivity of customer demand to the price of electricity, has been estimated for South Australia. We first undertake a review of the scholarly literature regarding electricity price elasticity for different regions and systems. Then we perform an empirical evaluation of the historic South Australian price elasticity, ...

The purpose of this paper is to analysis the viscoelastic models under dynamic loading. A five-parameter model is chosen for study exhibits elastic, viscous, and retarded elastic response to shearing stress. The viscoelastic specimen is chosen which closely approximates the actual behavior of a polymer. The module of elasticity and viscosity coefficients are assumed to be space dependent i.e. f...

Most US consumers are charged a near-constant retail price for electricity, despite substantial hourly variation in the wholesale market price. The Smart Grid is a set of emerging technologies that will facilitate "real-time pricing" for electricity and increase price elasticity of demand. This paper simulates the e¤ects of this increased demand elasticity using counterfactual simulations in a ...