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Using Custom Elasticity Values

SMART includes by default elasticity values that can be replaced with user values:

  • Import demand elasticity values used by default in SMART are the same for all reporters but may vary by product. The current set includes over 100 distinct values that can be changed but the elasticity value is unique for a given product (import demand elasticity is irrespective of the partner). As of now customizing this Elasticity is not available;
  • Export Supply elasticity receives 99 (means infinite elasticity) as by default value and is the same for all partners. The elasticity value can be changed but is unique for a given product (export supply elasticity is irrespective of the partner);
  • Substitution elasticity is set at 1.5 by default in SMART. The value can be changed but is unique for a given product (substitution elasticity is irrespective of the partner);

To use custom elasticity values:

  1. Overwrite the default 1.5 with the new relevant Substitution elasticity.
  2. Overwrite the default 99 with the new relevant Export Supply elasticity;

 

Next SMART Defining a Scenario.

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