Reference Work Entry

Encyclopedia of Psychopharmacology

pp 457-458

Elasticity

  • Darren R. ChristensenAffiliated withSection Behavioural Pharmacology, Institute of Psychiatry, King's College LondonCenter for Addiction Research, Psychiatric Research Institute, University of Arkansas for Medical Sciences
  • , Warren K. BickelAffiliated withCenter for Addiction Research, Psychiatric Research Institute, University of Arkansas for Medical Sciences

Synonyms

Adjustability; Flexibility; Malleability; Plasticity; Pliancy

Definition

The elasticity is the degree to which a change in price or income changes the demand for a commodity.

Cross-References

Behavioral Economics

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