Showing 1 - 10 of 11
The Thanksgiving-Christmas holiday period is a major sales period for US retailers. Due to higher store traffic, tasks such as restocking shelves, handling customers' questions and inquiries, running cash registers, cleaning, and bagging, become more urgent during holidays. As a result, the...
Persistent link: https://www.econbiz.de/10012713567
We study the link between price points and price rigidity, using two datasets containing over 100 million observations. We find that (i) 9 is the most frequently used price-ending for the penny, dime, dollar and ten-dollar digits, (ii) 9-ending prices are between 24%-73% less likely to change in...
Persistent link: https://www.econbiz.de/10014047133
In this paper we outline (i) why sigma-convergence may not accompany beta-convergence, (ii) discuss evidence of beta-convergence in the U.S., and (iii) use U.S. county-level data containing over 3,000 cross-sectional observations to demonstrate that sigma-convergence has not occurred at the...
Persistent link: https://www.econbiz.de/10014029829
If producers have more information than consumers about goods’ attributes, then they may use non-price (rather than price) adjustment mechanisms and, consequently, the market may reach a new equilibrium even if prices don't change. We study a situation where producers adjust the quantity per...
Persistent link: https://www.econbiz.de/10014039183
There is evidence that 9-ending prices are more common and more rigid than other prices. We use data from three sources: a laboratory experiment, a field study, and a large US supermarket chain, to study the cognitive underpinning and the ensuing asymmetry in rigidity associated with 9-ending...
Persistent link: https://www.econbiz.de/10014039928
Higgins et al. (2006) report several statistically significant partial correlates with U.S. per capita income growth. However, Levine and Renelt (1992) demonstrate that such correlations are hardly ever robust to changing the combination of conditioning variables included. We ask whether the...
Persistent link: https://www.econbiz.de/10014026155
We use Mississippi county-level data on (per capita) income and the percentages of populations that are Black (henceforth Black) to examine the relationship between race and economic growth. The analysis is also conditioned on 40 other economic and socio-demographic variables. Given a negative...
Persistent link: https://www.econbiz.de/10014026402
There has been increasing interest in understanding how firms undertake non-price adjustment activities, especially in situations where prices may be rigid despite changes in market conditions. Using scanner price data for over 4,500 different food products from a large US supermarket chain, we...
Persistent link: https://www.econbiz.de/10014026412
We use U.S. county-level data containing 1,921 cross-sectional observations and up to 29 conditioning variables to estimate heterogeneity in convergence rates across 22 individual U.S. states. Applying GMM estimation, we find significant heterogeneity in the state-level convergence rates. For...
Persistent link: https://www.econbiz.de/10014026529
Item pricing laws (IPLs) require a price tag on every item sold by a retailer. We study IPLs and assess their efficiency by examining and quantifying their costs and comparing them to their measurable benefits. On the cost side, we posit that IPLs should lead to higher prices because they...
Persistent link: https://www.econbiz.de/10014027271