calc.hicks.actual.RdGiven actual price and income elasticities (i.e., calculated using finite difference derivatives), compute the corresponding Hicks elasticities.
calc.hicks.actual(eps, alpha.s, alpha.n, alpha.m)
| eps | Elasticity values calculated by |
|---|---|
| alpha.s | Budget fraction for staples |
| alpha.n | Budget fraction for nonstaples |
| alpha.m | Budget fraction for materials |
dataframe with hicks elasticities