This paper investigates the demand elasticity of search. We provide a new characterization of monotone hazard rate and of the first-order condition determining the optimal reservation price, and prove that the demand for information is elastic if the hazard rate function h for the distribution of offers is decreasing and inelastic if h is increasing.  2000 Elsevier Science S.A. All rights rese...

Because the automated clearinghouse (ACH) has been found to have lower social costs than paper checks, the Federal Reserve has been promoting more widespread use of ACH by lowering ACH processing fees. In this paper we have obtained the first numerical estimates of ACH demand elasticities, a measure of the responsiveness of ACH demand to price changes. In order to determine how robust the estim...

Obesity is a complex problem with many causes, from genetic and behavioral disorders to environmental factors, including access to calorie-dense fast food meals. Economists and epidemiologists disagree on the importance of access to fast food as a causal factor for obesity, but agree that any policy regulating access to fast food will likely use the price system, through taxes or other means to...

In this paper, a heuristic mathematical model for optimal decision-making of a Distribution Company (DisCo) is proposed that employs demand response (DR) programs in order to participate in a day-ahead market, taking into account elastic and inelastic load models. The proposed model is an extended responsive load modeling that is based on price elasticity and customers’ incentives in which they...

Cloud computing has spurred the exploration and exploitation of elastic access to large scales of computing. To date the predominate building blocks by which elasticity has been exploited are applications and operating systems that are built around traditional computing infrastructure and programming models that are in-elastic or at best coarsely elastic. What would happen if application themse...