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Why Does the Average Price of Tuna Fall During Lent? / Aviv Nevo, Konstantinos Hatzitaskos.
- Format:
- Book
- Author/Creator:
- Nevo, Aviv.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w11572.
- NBER working paper series no. w11572
- Language:
- English
- Subjects (All):
- Demand (Economic theory).
- Consumer goods.
- Prices--Econometric models.
- Prices.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2005.
- Cambridge, Mass. : National Bureau of Economic Research, 2005.
- Summary:
- For many products the average price paid by consumers falls during periods of high demand. We use information from a large supermarket chain to decompose the decrease in the average price into a substitution effect, due to an increase in the share of cheaper products, and a price reduction effect. We find that for almost all the products we study the substitution effect explains a large part of the decrease. We estimate demand for these products and show the price declines are consistent with a change in demand elasticity and the relative demand for different brands. Our findings are less consistent with "loss-leader" models of retail competition.
- Notes:
- Print version record
- August 2005.
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