We use novel and unique data to study the effect of price changes in the market for luxury and middle class homes. We find that luxury home sales respond less to price changes than the middle-class home sales; in the market for luxury homes, past prices affect current prices; luxury home prices...

Some food items that are commonly considered unhealthy also tend to elicit impulsive responses. The pain of paying in cash can curb impulsive urges to purchase such unhealthy food products. Credit card payments, in contrast, are relatively painless and weaken impulse control. Consequently,...

While audience and participation surveys, as well as econometric demand studies, generally confirm that performing arts audiences are relatively elite, there are surprises. Education (despite conflicting causal interpretations) is a stronger determinant than income, but that evidence is more...

The media industry has undergone a fundamental shift over the last decade as new online distribution channels have proliferated in an unprecedented manner. Although mobile devices have experienced rapid adoption among consumers, their effect on consumer behavior and their subsequent implications...

This paper uses revealed preference inequalities to provide tight nonparametric bounds on consumer responses to price changes. Price responses are allowed to vary nonparametrically across the income distribution by exploiting microdata on consumer expenditures and incomes over a finite set of...

Designing a system of policies for basic goods subsidy adjustments and welfare effects of subsidy reduction widely accentuate by Iranian policy makers and economists. This article tries to answer to the one of the main questions of this matter such as, "What the equivalent amount of money for...

We create a new weekly index of retail trade that accurately predicts the U.S. Census Bureau's Monthly Retail Trade Survey (MRTS). The index's weekly frequency provides an early snapshot of the MRTS and allows for a more granular analysis of the aggregate consumer response to fast-moving events...

Improving energy efficiency is one of the three pillars of the European energy and climate targets for 2020 and has led to the introduction of several policy measures to promote energy efficiency. The paper analyzes the effectiveness of subsidies in increasing energy efficiency in residential...

Improving energy efficiency is one of the three pillars of the European energy and climate targets for 2020 and has led to the introduction of several policy measures to promote energy efficiency. The paper analyzes the effectiveness of subsidies in increasing energy efficiency in residential...

In this paper we develop a measure of current "expenditures" on housing services for owner-occupiers. Having such a measure is important for measuring the relative welfare of households, especially when comparing renters and owners and for measuring inflation. From a theoretical perspective...