. Second, we propose and illustrate an alternative, preference based, method for estimating consumer responses to price changes … under these conditions. Our preference based approach yields price elasticities on the order of 0.4 and a quot …;utilities expenditurequot; elasticity of near unity. This research highlights the possibility that households may be more sensitive to price …

. Second, we propose and illustrate an alternative, preference based, method for estimating consumer responses to price changes … under these conditions. Our preference based approach yields price elasticities on the order of 0.4 and a "utilities … expenditure" elasticity of near unity. This research highlights the possibility that households may be more sensitive to price …