Price elasticities of demand are minus one-half

As an empirical regularity for broad groups, price elasticities of demand are scattered around minus one-half, a result not inconsistent with preference independence. When nothing is known about the price-sensitivity of a good, a reasonable first approximation to its price elasticity is minus one-half.

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Year of publication:	2008
Authors:	Clements, Kenneth W.
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 99.2008, 3, p. 490-493
Publisher:	Elsevier

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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