Detail publikačního výsledku

DEMAND ELASTICITY FOR THE CZECH CONSUMER

LUŇÁČEK, J.; MELUZÍNOVÁ, J.

Originální název

DEMAND ELASTICITY FOR THE CZECH CONSUMER

Anglický název

DEMAND ELASTICITY FOR THE CZECH CONSUMER

Druh

Stať ve sborníku v databázi WoS či Scopus

Originální abstrakt

The mission of economics in practical application can be described as an additional tool for the deeper understanding of the connection between market subjects. The price elasticity of demand is an extremely important value for the right pricing strategy. In many cases there are merely theoretical concepts, and concrete values for the actual situation are lacking. The objective of this paper is to evaluate methods for identifying demand elasticity. A longer time period will be used for the solution. The article will compare data from previous studies and discuss possible changes of the coefficients of elasticity for the Czech consumer. Two different procedures will be used for the solution. Reference values will be calculated by a standard approach of correlation and regression analysis. In the next section, these results will be compared with the second procedure, which is more focused on the possible variability of individual responses. The values determined are then compared with known values from the past and from the literature. The final part contains identification of changes in elasticity values for the previous 10 years in the Czech Republic. Key words:

Anglický abstrakt

The mission of economics in practical application can be described as an additional tool for the deeper understanding of the connection between market subjects. The price elasticity of demand is an extremely important value for the right pricing strategy. In many cases there are merely theoretical concepts, and concrete values for the actual situation are lacking. The objective of this paper is to evaluate methods for identifying demand elasticity. A longer time period will be used for the solution. The article will compare data from previous studies and discuss possible changes of the coefficients of elasticity for the Czech consumer. Two different procedures will be used for the solution. Reference values will be calculated by a standard approach of correlation and regression analysis. In the next section, these results will be compared with the second procedure, which is more focused on the possible variability of individual responses. The values determined are then compared with known values from the past and from the literature. The final part contains identification of changes in elasticity values for the previous 10 years in the Czech Republic. Key words:

Klíčová slova

Elasticity, Demand, Consumer Basket, Regression Analyses, Standard Deviation.

Klíčová slova v angličtině

Elasticity, Demand, Consumer Basket, Regression Analyses, Standard Deviation.

Autoři

LUŇÁČEK, J.; MELUZÍNOVÁ, J.

Rok RIV

2014

Vydáno

19.09.2013

Nakladatel

Melandrium

ISBN

978-80-86175-87-4

Kniha

The 7th International Days of Statistics and Economics

Edice

1

ISSN

NEUVEDENO

Strany od

829

Strany do

838

Strany počet

9

BibTex

@inproceedings{BUT102378,
  author="Jiří {Luňáček} and Jana {Meluzínová}",
  title="DEMAND ELASTICITY FOR THE CZECH CONSUMER",
  booktitle="The 7th International Days of Statistics and Economics",
  year="2013",
  series="1",
  number="1",
  pages="829--838",
  publisher="Melandrium",
  isbn="978-80-86175-87-4"
}