ABSTRACT
This section examines the trends in total and net demand for unworked (raw) ivory of Japan and Hong Kong over the periods 1950–87 and 1962–87 respectively. The analysis is based on two econometric models:
a relatively simple estimation of the income- and price-elasticities of demand at a national level; 1 and,
a more elaborate model that attempts to calculate price elasticities while also including an asset-demand motivation for holding ivory. 2
