Roland,
Elasticity is the ratio of the change in image area to the change in viewing angle, measured in logs with respect to the adjacent shorter focal length. As an example, the elasticity for the 35mm focal length is calculated as ln(35mm imagine area/28mm image area)/ln(VA of 35mm/VA of 28mm). Elasticity can be interpreted as a measure of sensitivity of image area to viewing angle.
Elasticity for a defined focal length can also be calculated as a near mid-point of the arc over the adjacent longer and shorter focal lengths. In the case of 35mm, this approach would determine elasticity as the (approximate) mid-point of the arc for 50mm (adjacent longer lens) and 28mm (adjacent shorter lens). The difficulty with this approach is that the adjacent "long side" focal length may be much closer to (or further from) the focal length of interest than the adjacent "short side" focal length...at least for well established focal lengths: 18, 20, 24, 28, 35, etc. To deal with this estimation error, I have simulated viewing angles for very near constant-distance focal lengths for the established focal lengths, and then estimated the image areas and corresponding elasticities - which can surely improve the accuracy of the estimated elasticities. For example, for 35mm, I would use simulated viewing angles for 33mm and 37mm, and then calculate the arc image areas and the commensurate elasticities.
Robert