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by littlestymaar
3208 days ago
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> and having taken supply schedules and use those to predict price variation, […] Simple regressions of supply and demand curves have uncanny predictive power. Do you have access to the actual data you worked with ? I personally attempted to study real world data to get an idea of the actual elasticity of basic products (gas, real estate, tobacco) and I've never found a single relevant measurement. I'd be really interested to see a real life example of this phenomenon. |
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Gas is refined, real estate is inscrutable and tobacco highly regulated. That makes them hard. (I don't think we have any good models for real estate.) Try thermal coal or crude oil or pork. The EIA, U.S. DoE and CME have loads of data.