Economics, Econometrics and Finance
3 years ago

New method reveals true impact of quality on price elasticity!

2001 Annual meeting, August 5-8, Chicago, IL
Estimation of Price Elasticities from Cross-Sectional Data
Chanjin Chung, Diansheng Dong, Harry M. Kaiser, Todd M. Schmit

Paper Summary

The study developed a new way to figure out how much people change their buying habits when prices change. They found that it's crucial to consider changes in product quality when analyzing consumer demand.

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