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How Reliable Is It to Obtain Price Flexibilities from Inverting Price Elasticities?

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  • Huang, Kuo S.

Abstract

Food price elasticities and flexibilities are widely used in agricultural policy and program analyses. Most agricultural economists take the reciprocal of a directly estimated elasticity, or more rigorously the inversion of an elasticity matrix at the retail level, as flexibility measures. Conceptual discussion and empirical evidence are provided to assess the reliability of this common practice of obtaining flexibility measures by inverting a matrix of directly estimated elasticities.

Suggested Citation

  • Huang, Kuo S., 2005. "How Reliable Is It to Obtain Price Flexibilities from Inverting Price Elasticities?," 2005 Annual meeting, July 24-27, Providence, RI 19335, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea05:19335
    DOI: 10.22004/ag.econ.19335
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    File URL: https://ageconsearch.umn.edu/record/19335/files/sp05hu09.pdf
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    References listed on IDEAS

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    1. Huang, Kuo S., 1993. "A Complete System of U.S. Demand for Food," Technical Bulletins 157046, United States Department of Agriculture, Economic Research Service.
    2. Huang, Kuo S., 1991. "U.S. demand for food: a complete system of quantity effects on prices," Technical Bulletins 312326, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. Crawford, Gregory & Deer, Lachlan & Smith, Jeremy & Sturgeon, Paul, 2017. "The Regulation of Public Service Broadcasters: Should there be more advertising on television?," CEPR Discussion Papers 12428, C.E.P.R. Discussion Papers.

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    Demand and Price Analysis;

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