depends on the consumers' rational price expectations from the recent past. By implication, demand responses are more elastic … for price increases than for price decreases and thus firms face a downward-sloping demand curve that is kinked at the … consumers' reference price. Firms adjust their prices flexibly in response to variations in this demand curve, in the context of …

implications arise: First, demand responses are more elastic for price increases than for price decreases and thus firms face a … downward-sloping demand curve that is kinked at the consumer s reference price. Second, changes in the consumer s recent … rational price expectations and hence in the consumer s reference price can alter demand through what we call the reference …

Singapore's government imposed two rounds of demand restrictions in 2011 and 2013, respectively, which disallow private … transaction data between 2005 and 2015, we find that the demand shocks in 2010 and 2013 cause prices of investors' transactions to …

theory, which predicts that loss-aversion may decrease insurance demand if individuals' reference points are ‘the wealth … reference points are important in determining the relationship between loss-aversion and insurance demand by showing that the …

depends on the consumers' rational price expectations from the recent past. By implication, demand responses are more elastic … for price increases than for price decreases and thus firms face a downward-sloping demand curve that is kinked at the … consumers' reference price. Firms adjust their prices flexibly in response to variations in this demand curve, in the context of …

depends on the consumers’ rational price expectations from the recent past. By implication, demand responses are more elastic … for price increases than for price decreases and thus firms face a downward-sloping demand curve that is kinked at the … consumers’ reference price. Firms adjust their prices flexibly in response to variations in this demand curve, in the context of …