other products by an unusually low elasticity of demand with respect to product failure. While consumers in other markets … potential cures accumulated over time. Because no one was ever cured and consumers possessed a highly inelastic demand with … respect to product failures, demand was unrelenting. In short, patent medicines flourished not despite their dubious medicinal …

are examined. Price inelastic demand is more likely the result of low pricing strategies of non-profit arts managements …While audience and participation surveys, as well as econometric demand studies, generally confirm that performing arts … controlling for the value of time, and price elasticities are often higher than expected, especially when more disaggregated data …