The standard formal presentation of the Dixit-Stiglitz-Krugman (DSK) model of monopolistic competition with a constant-elasticity-of-substitution (CES) utility function supposes a sufficient number of ...

It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are ...

In business and economics, elasticity is usually used to describe how much demand for a product changes as its price increases or decreases. This is referred to as price elasticity of demand ...

Elasticity is a method of measuring the likelihood of one economic factor affecting another, such as when the price of an item affects consumer demand or when supply affects how much something costs.

Yakar Kannai, Larry Selden, Violation of the Law of Demand, Economic Theory, Vol. 55, No. 1 (January 2014), pp. 1-28 ...