TABLE 4-3 Estimated Short-Run and Long-Run Price Elasticities of Demand (E) for Selected Commodities Elasticity Commodity Short Run Long Run Clothing (US) 0.90 2.90 Tobacco products (US) 0.46 1.89 Jewelry and watches (US) 0.41 0.67 Beer (US) 1.72 2.17 Cheese (UK)d 1.36 Wine (Canada) 0.88 1.17 Household natural gas (US) 1.40 2.10 Electricity (household, US)' 0.13 1.89 Public transport (England)s 0.51 0.69 Public transport (France)s 0.32 0.61 Gasoline (US) 0.25 0.92 Gasoline (Canada) 0.15 0.60 Gasoline (Australia) 0.12 0.58 M. R. Baye, D. W. Jansen, and T. W. Lee, "Advertising in Complete Demand Systems," Applied Economics, vol. 24 (1992). "H. S. Houthakker and L. S. Taylor, Consumer Demand in the United States: Analyses and Projections (Cambridge, Mass.: Harvard University Press, 1970). C. A. Gallet and J. A. List, "Elasticity of Beer Demand Revisited," Economic Letters (October 1998). "D. Harvey, "Major Market Response Concepts and Measures," http://www.staff.ncl.ac.uk/ david.harvey/AEF116/1.6/html. J. A. Johnson, E. H. Oksanen, M. R. Veal, and D. Fretz, "Short-Run and Long-Run Elasticities for Canadian Consumption of Alcoholic Beverages," Review of Economics and Statistics (February 1992). fG. R. Lakshmanan and W. Anderson, "Residential Energy Demand in the United States," Regional Science and Urban Economics (August 1980). B. Hagler, "Transportation Elasticities," TDM Encyclopedia ( Victoria BC, Canada: Victoria Transport Policy Institute, 2005), http://www.vtpi.org/tdm/tdml1.htm