The theoretical cross-price elasticity of demand of product j with respect to price of product к is
then
Дуй
_ ∂sj pk _ Pk 1 ]_ ∙^-'∙ ∂Pjj∖
∂pk Sj Sj ∖N 2-^i=ι ∂pk J
_ pk (N ∑i=ι (/ aibijt(ai)Likt(ai)f (ai)⅛))
which can be simulated using
sEjk _ pk N ∑*=ι (⅛ ∑<∙=ι a^(аг)цы(аг))
Similarly, the theoretical own price elasticity is
E∙ ∙
Ejj
dsj p±
∂pj sj
pj A 1 ∖^'' dPij ʌ
Sj ∖N z-^≈=∣ ∂pj )
s. Nn ^ ʌ; 1 ʃ aiLijt{ai) (1 Lijt{ai)') f (щ^а^^
which is simulated using
sEjj _ -pΓ [N ∑Γ 1 (⅛ Σ^ 1 arLijt(ar) (1 - Ll3t(a)))
Sj IN ^— 1∖^-ZL > —1 J
41
More intriguing information
1. Olive Tree Farming in Jaen: Situation With the New Cap and Comparison With the Province Income Per Capita.2. Keynesian Dynamics and the Wage-Price Spiral:Estimating a Baseline Disequilibrium Approach
3. The name is absent
4. EXECUTIVE SUMMARIES
5. If our brains were simple, we would be too simple to understand them.
6. The name is absent
7. The name is absent
8. The fundamental determinants of financial integration in the European Union
9. PROTECTING CONTRACT GROWERS OF BROILER CHICKEN INDUSTRY
10. The name is absent