Essential Value, Pmax, and Omax Automated Calculator
Kaplan, Brent A. Reed, Derek D.
Kaplan, Brent A.
Reed, Derek D.
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Abstract
Behavioral economic measures of demand are often calculated in sophisticated spreadsheet programs. Unfortunately, no closed form models for exact pmax (point of unit elasticity) and omax (response output at pmax) can be applied to initial regression of demand due to the iterative nature of these parameters' calculations. This tool allows researchers to copy and paste basic demand curve parameters into an Excel spreadsheet to compute exact pmax and omax using contemporary models of demand.
Description
This Excel spreadsheet calculates behavioral economic demand metrics (essential value, pmax, and omax) for user-supplied elasticity (e.g., demand curve) parameters. We recommend using Microsoft Excel 2007 or newer when opening this file.
Date
2014-08-21
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Keywords
Behavioral Economics, Demand Elasticity, Pmax, Essential Value, Demand, Demand Curve, Omax, Hursh, Excel