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Elasticity of Substitution—A SummaryBy Madhuri Singh
Abstract: This paper has a very specific purpose of explaining the differences among Allen elasticity of substitution, Morishima elasticity of substitution and McFadden elasticity of substitution. It is roughly divided into three sections. The first section traces the evolutionary trajectory and provides a summarized description(including formula) of these three measurements. The next section discusses a hypothetical scenario to bring out the intuition behind elasticity of substitution more vividly. In the last …
Published in OmniScience: A Multi-disciplinary Journal · Vol. 9, Issue 3, 2019 · pp. 15–21 Read article →