ABSTRACT
A. Overestimation of Required Elasticities: The critical values of elasticities; The two critical assumptions; The neglect of the elasticities of supply; The supply elasticities in international trade; The start from balanced trade; The neglect of income effects ■ B. Underestimation of Actual Elasticities: The findings of statistical research; Statistical demand curves; Measuring aggregative elasticities; Bias inherent in the index number technique; Bias inherent in the underlying assumptions; Bias due to curve-fitting technique; Bias inherent in neglect of time lag; Questionable relevance
