A Need To Revamp Textbook Presentations Of Price Elasticity  

Oleh:

Dickinson, John R.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Journal of Marketing Education vol. 24 no. 2 (Aug. 2002), page 143-149.
Fulltext: 143.pdf (102.77KB)

Isi artikel

Estimating price elasticity as commonly introduced in marketing textbooks is unrealistically simplistic. Actual estimation iss ubject to numerousconfounding factors. Generally, true price elasticity is not known and, thus, it is not possible to quantify deviation between estimated and true price elasticity. This study uses a simulation gaming platform where true price elasticity is known to compare estimated and true price elasticity. The results suggest that the simple formula and total revenue–price relationship estimation methods for price elasticity are subject to considerable error.

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