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The Statistical Determination of Demand Curves

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  • Holbrook Working

Abstract

One type of study is concerned with the relation between price and consumers' demand, 503. — Illustrated in the study of potatoes, 505. — Price data should relate to a specific market, 508. — Allowance must be made for effects of other forces, 509. — Demand must be expressed in terms of rates and must cover all uses, 512. — Elasticity depends on market point at which it is measured, 512. — A second and more common type of study is concerned with " speculators'" demand, 518. — Cannot be expressed in terms of rates, 519. — But may yield some knowledge of consumers' demand, 521. — Current "demand and supply" can rarely be measured satisfactorily, 522. — A modification of the second type of study gives better results, 524. — The two types compared, 525. — Relation between theoretical and empirical demand curves, 526. — Three divergent statistical results, 529. — Determining the true relationship, 536.

Suggested Citation

  • Holbrook Working, 1925. "The Statistical Determination of Demand Curves," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 39(4), pages 503-543.
    • Handle: RePEc:oup:qjecon:v:39:y:1925:i:4:p:503-543.
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    Cited by:

    1. John Pencavel, 2016. "Whose Preferences Are Revealed In Hours Of Work?," Economic Inquiry, Western Economic Association International, vol. 54(1), pages 9-24, January.
    2. Chesher, Andrew, 2007. "Instrumental values," Journal of Econometrics, Elsevier, vol. 139(1), pages 15-34, July.
    3. Carletto,Calogero & Dillon,Andrew S. & Zezza,Alberto, 2021. "Agricultural Data Collection to Minimize Measurement Error and Maximize Coverage," Policy Research Working Paper Series 9745, The World Bank.
    4. Pédussel Wu, Jennifer & Metzger, Martina & Neira, Ignacio Silva & Farroukh, Arafet, 2023. "What determines demand for digital community currencies? OurVillage in Cameroon," IPE Working Papers 209/2023, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    5. Fouquet, Roger, 2014. "Long run demand for energy services: income and price elasticities over two hundred years," LSE Research Online Documents on Economics 59070, London School of Economics and Political Science, LSE Library.
    6. Roger Fouquet, 2013. "Long Run Demand for Energy Services: the Role of Economic and Technological Development," Working Papers 2013-03, BC3.
    7. Emeric Lendjel, 2000. "The statistical origin of the cobweb diagram," Post-Print halshs-03243880, HAL.
    8. Emeric Lendjel, 1998. "L'origine statistique du diagramme du cobweb," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00268370, HAL.
    9. Merino Troncoso, Carlos, 2021. "Consumer Demand Estimation," MPRA Paper 105169, University Library of Munich, Germany.
    10. Emeric Lendjel, 2000. "The statistical origin of the cobweb diagram," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-03243880, HAL.
    11. Thomas Delcey & Guillaume Noblet, 2024. "The Making of Informational Efficiency: Information Policy and Theory in Interwar Agricultural Economics," Post-Print hal-03227973, HAL.
    12. Merino Troncoso, Carlos, 2023. "Introduction to Competition Economics," MPRA Paper 115999, University Library of Munich, Germany.
    13. Arthur Lewbel, 2019. "The Identification Zoo: Meanings of Identification in Econometrics," Journal of Economic Literature, American Economic Association, vol. 57(4), pages 835-903, December.
    14. Stephen Pollock, 2014. "Econometrics: An Historical Guide for the Uninitiated," Discussion Papers in Economics 14/05, Division of Economics, School of Business, University of Leicester.
    15. Runge, C. Ford, 2006. "Agricultural Economics: A Brief Intellectual History," Staff Papers 13649, University of Minnesota, Department of Applied Economics.
    16. David Teira Serrano, 2006. "A positivist tradition in early demand theory," Journal of Economic Methodology, Taylor & Francis Journals, vol. 13(1), pages 25-47.
    17. Salvas-Bronsard, Lise, 1985. "L’information a priori en économétrie," L'Actualité Economique, Société Canadienne de Science Economique, vol. 61(3), pages 287-298, septembre.
    18. Emeric Lendjel, 1998. "L'origine statistique du diagramme du cobweb," Working Papers halshs-00268370, HAL.

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