Australian Journal of Agricultural Economics · 1964 · 13 citations · 0 references
Social SciencesEconomicsMathematicsEconometricsFinancial EconomicsMathematical EconomicsEconomies Of ScalePrice ElasticityDimensionless NumbersDimensionless QuantitiesElasticity Coefficients
“Through the influence of Alfred Marshall economists have developed a fondness for certain dimensionless expressions called efasticify coefficients. On the whole it appears that their importance is not very great except possibly as a mental exercise for beginning students … Not only are elasticity expressions more or less useless but in more compficated systems they become an actual nuisance converting symmetrical expressions into asymmetrical ones…”