We study the introduction of a price floor for alcohol that is aimed at correcting for negative consumption … to match these patterns, and use this to compare the welfare performance of a price floor with the counterfactual … drinkers, then a price floor is better targeted at the most socially costly consumption and therefore achieves larger welfare …

A common approach to measuring price changes is to look at the change of the expenditure needed to purchase a fixed … price changes faced by consumers. Substitution and outlet bias, two commonly studied concerns, are both driven by consumer … the implications of consumers'; timing and quantity decisions have on standard practices of computing a price index. We …