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Do Firms Use Coupons and In-store Discounts to Strategically Market Experience Goods Over the Consumption Life-Cycle? The Case of Cigarettes

Sfekas, Andrew; Lillard, Dean R. - National Bureau of Economic Research (NBER) - 2013

Cigarettes are experience goods - most of their utility value only gets revealed when one consumes them. We hypothesize a three phase consumer life cycle for experience goods. Consumers initially do not know their utility from the good or their preferences for particular characteristics, and may...

Persistent link: https://www.econbiz.de/10010951451

House Prices, Local Demand, and Retail Prices

Stroebel, Johannes; Vavra, Joseph - National Bureau of Economic Research (NBER) - 2014

We use detailed micro data to document a causal response of local retail price to changes in house prices, with elasticities of 15%-20% across housing booms and busts. Notably, these price responses are largest in zip codes with many homeowners, and non-existent in zip codes with mostly renters....

Persistent link: https://www.econbiz.de/10011269065

Measuring the Economic Effect of Global Warming on Viticulture Using Auction, Retail, and Wholesale Prices

Ashenfelter, Orley; Storchmann, Karl - National Bureau of Economic Research (NBER) - 2010

In this paper we measure the effect of year to year changes in the weather on wine prices and winery revenue in the … Mosel Valley in Germany in order to determine the effect that climate change is likely to have on the income of wine growers …

Persistent link: https://www.econbiz.de/10008631094

French Wine and the U.S. Boycott of 2003: Does Politics Really Affect Commerce?

Ashenfelter, Orley; Ciccarella, Stephen M. Ciccarella, Jr. - National Bureau of Economic Research (NBER) - 2007

, wine in particular, rebounded through all forms of media. In the spring of 2003, French business people even reported that … the boycott calls were hurting their U.S. sales. Using a dataset of sales of nearly 4,700 individual wine brands, we show … that there actually was no boycott effect. Rather, sales of French wine dipped for two reasons. First, they experience a …

Persistent link: https://www.econbiz.de/10005829441

Non-Parametric Demand Analysis with an Application to the Demand for Fish

Angrist, Joshua; Imbens, Guido; Graddy, Kathryn - National Bureau of Economic Research (NBER) - 1995

Instrumental variables (IV) estimation of a demand equation using time series data is shown to produce a weighted average derivative of heterogeneous potential demand functions. This result adapts recent work on the causal interpretation of two-stage least squares estimates to the simultaneous...

Persistent link: https://www.econbiz.de/10005832306

Measuring Market Power in the Ready-to-Eat Cereal Industry

Nevo, Aviv - National Bureau of Economic Research (NBER) - 1998

The ready-to-eat cereal industry is characterized by high concentration margins, large advertising to sales ratios, and numerous introductions of new products. Previous researchers have concluded that the ready-to-eat cereal industry is a classic example of an industry with nearly collusive...

Persistent link: https://www.econbiz.de/10005774775

The Effect of Mergers on Consumer Prices: Evidence from Five Selected Case Studies

Ashenfelter, Orley; Hosken, Daniel - National Bureau of Economic Research (NBER) - 2008

In this paper we propose a method to evaluate the effectiveness of U.S. horizontal merger policy and apply it to the study of five recent consumer product mergers. We selected the mergers from those that, from the public record, seemed to be most problematic for the antitrust agencies. Thus we...

Persistent link: https://www.econbiz.de/10005777461

Do Pharmacists Buy Bayer? Informed Shoppers and the Brand Premium

Gentzkow, Matthew Aaron; Shapiro, Jesse; Bronnenberg, … - National Bureau of Economic Research (NBER) - 2014

We estimate the effect of information and expertise on consumers’ willingness to pay for national brands in physically homogeneous product categories. In a detailed case study of headache remedies we find that more informed or expert consumers are less likely to pay extra to buy national...

Persistent link: https://www.econbiz.de/10011144246

Informational Rigidities and the Stickiness of Temporary Sales

Nakamura, Emi; Steinsson, Jon; Anderson, Eric; … - National Bureau of Economic Research (NBER) - 2013

Frequent price changes do not imply a rapid response of prices to economic shocks if the price changes are based on old information. We study the extent of such information "stickiness" for temporary sales. Institutionally, we describe how and why temporary sales are "sticky plans" that are...

Persistent link: https://www.econbiz.de/10010969292

A Model of Add-on Pricing

Ellison, Glenn - National Bureau of Economic Research (NBER) - 2003

This paper examines a competitive model of add-on pricing, the practice of advertising low prices for one good in hopes of selling additional products (or a higher quality product) to consumers at a high price at the point of sale. The main conclusion is that add-on pricing softens price...

Persistent link: https://www.econbiz.de/10005580174