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  • 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 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 (en)
Title
  • DEMAND ELASTICITY FOR THE CZECH CONSUMER
  • DEMAND ELASTICITY FOR THE CZECH CONSUMER (en)
skos:prefLabel
  • DEMAND ELASTICITY FOR THE CZECH CONSUMER
  • DEMAND ELASTICITY FOR THE CZECH CONSUMER (en)
skos:notation
  • RIV/00216305:26510/13:PU105684!RIV14-MSM-26510___
http://linked.open...avai/riv/aktivita
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  • S
http://linked.open...vai/riv/dodaniDat
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  • 68299
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  • RIV/00216305:26510/13:PU105684
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  • Elasticity, Demand, Consumer Basket, Regression Analyses, Standard Deviation. (en)
http://linked.open.../riv/klicoveSlovo
http://linked.open...ontrolniKodProRIV
  • [186EE2436088]
http://linked.open...v/mistoKonaniAkce
  • Praha
http://linked.open...i/riv/mistoVydani
  • Neuveden
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  • The 7th International Days of Statistics and Economics
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http://linked.open...UplatneniVysledku
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  • Luňáček, Jiří
  • Meluzínová, Jana
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http://linked.open.../riv/zahajeniAkce
number of pages
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  • Melandrium
https://schema.org/isbn
  • 978-80-86175-87-4
http://localhost/t...ganizacniJednotka
  • 26510
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