It lists demand elasticities for dairy products in various countries, broken down by income range. I know dairy isn't anything like the whole picture, but it calls out an interesting data point: The US is by a huge margin an outlier, with a price elasticity of demand for dairy products of -0.095, where most high-income countries range from about -0.25 to -0.45. The poorer countries top out at around -0.75.
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Date: 2007-08-13 03:32 am (UTC)http://www.defra.gov.uk/foodrin/milk/pdf/agraceasreport.pdf
It lists demand elasticities for dairy products in various countries, broken down by income range. I know dairy isn't anything like the whole picture, but it calls out an interesting data point: The US is by a huge margin an outlier, with a price elasticity of demand for dairy products of -0.095, where most high-income countries range from about -0.25 to -0.45. The poorer countries top out at around -0.75.