.elasticity_at_price

Computes eta(p) = d log(Q(p)) / d log(p) via central finite differences

internal

Facilitates many of the analyses performed in studies of
behavioral economic demand. The package supports commonly-used options for
modeling operant demand including (1) data screening proposed by Stein,
Koffarnus, Snider, Quisenberry, & Bickel (2015; <doi:10.1037/pha0000020>),
(2) fitting models of demand such as linear (Hursh, Raslear, Bauman,
& Black, 1989, <doi:10.1007/978-94-009-2470-3_22>), exponential (Hursh & Silberberg, 2008,
<doi:10.1037/0033-295X.115.1.186>) and modified exponential (Koffarnus,
Franck, Stein, & Bickel, 2015, <doi:10.1037/pha0000045>), and (3) calculating
numerous measures relevant to applied behavioral economists (Intensity,
Pmax, Omax). Also supports plotting and comparing data.

Brent Kaplan

beezdemand

Behavioral Economic Easy Demand

Shawn Gilroy

.elasticity_at_price function

<dl><dt>demand_fn</dt>
<dd>Function Q(p) returning demand at price p</dd>
<dt>price</dt>
<dd>Price point at which to evaluate elasticity</dd>
<dt>delta</dt>
<dd>Relative step size for finite difference (default 1e-5)</dd></dl>

Arguments

Calculate Elasticity at a Given Price — .elasticity_at_price

<dl>

<dt>demand_fn</dt>
<dd>Function Q(p) returning demand at price p</dd>


<dt>price</dt>
<dd>Price point at which to evaluate elasticity</dd>


<dt>delta</dt>
<dd>Relative step size for finite difference (default 1e-5)</dd>

</dl>

.elasticity_at_price: Calculate Elasticity at a Given Price

Description

Usage

Value

Arguments