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Partner

Price Elasticity using Sliders

Has anyone found a way of demonstrating Price Elasticity of Demand using sliders?

What I am looking at is two sliders, one showing price, the other showing quantity of units. As the price changes, the quantity of units should change. Furthermore, if the quantity of units change, the price would correspondingly change.

Or is there an alternative approach to demonstrating this ?

Regards,

Neil

1 Solution

Accepted Solutions
jerem1234
Valued Contributor II

Re: Price Elasticity using Sliders

I used the method Adam suggested above (using Variable Event Trigger -> On Input) using two variables and it seems they are indeed reacting to each other.

Please find attached.

6 Replies
annafuksa1
Contributor III

Re: Price Elasticity using Sliders

Please see attachment.

Partner
Partner

Re: Price Elasticity using Sliders

HI, Anna.

Thanks for your attachment.

What I was looking for in particular was sliders reacting to each other rather than an object reacting to two separate sliders.

Sorry - I may not have made that clear in my original post.

Thanks,

Neil

Highlighted
Employee
Employee

Re: Price Elasticity using Sliders

Hi Neil,

Depending on if the values in the sliders are fields or variables could you use one of the document triggers to watch for a change in one value and based on that make a change to the other value.

Settings -> Document Properties -> Triggers and then either Field Event Trigger or Variable Event Trigger.

This might lead to some interesting effects if the change of one value causes a feedback loop but it is the first avenue I would look down.

Regards,

Adam

jerem1234
Valued Contributor II

Re: Price Elasticity using Sliders

I used the method Adam suggested above (using Variable Event Trigger -> On Input) using two variables and it seems they are indeed reacting to each other.

Please find attached.

Partner
Partner

Re: Price Elasticity using Sliders

Hi, Jerem1234

Did you encounter an endless loop where the field event triggers were trying to recalculate both sliders ?

I envisage that there is a Field event trigger for both sliders there could be problems:

If Slider A is changed, the Field Event trigger will recalculate Slider B. Would this then trigger the Field Event for Slider B to try to recalculate Slider A ?

This is hypothetical, I haven't had the chance to try this yet.

Thanks,

Neil

Partner
Partner

Re: Price Elasticity using Sliders

Hi, Jerem1234.

Just downloaded your example and seen my assumption was incorrect.

Many thanks for your help.

Neil