Essential resources like electricity and water can experience rapidly changing demand or supply while the other side of the market is unchanged. Short-run price variation could efficiently allocate resources at these critical times, but only if consumers exhibit short-run demand elasticity. The...

For a multi-channel retailer, opening a physical store can lead to cannibalization of online sales as consumers' transportation costs decrease. Holding purchase frequency fixed, this channel switching behavior represents an economic loss to the firm if customers buy fewer or lower margin items...