The Influence of Consumer Price Information on Retail Pricing and Consumer Behavior
D. Grant Devine,Bruce W. Marion +1 more
TLDR
In this paper, the authors collected price information for major Ottawa supermarkets over a twenty-eight-week period and published in daily newspapers during a five-week test period in response to the information, the dispersion of prices across stores and chains narrowed, the average level of prices of the market dropped and consumer satisfaction increased relative to the control market.Abstract:
Comparative price information for major Ottawa supermarkets was collected over a twenty-eight-week period and published in daily newspapers during a five-week test period In response to the information, the dispersion of prices across stores and chains narrowed, the average level of prices of the market dropped, and consumer satisfaction increased relative to the control market Consumers transferred patronage to the lower priced stores Consumers indicated a willingness to pay 34¢ per week on average for the price comparison information Estimated consumer benefits far exceeded the cost of the programread more
Citations
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Journal ArticleDOI
The Contingent Valuation Debate: Why Economists Should Care
TL;DR: The controversy over the use of the contingent valuation method in estimating the damage done by spills of oil, chemicals, or other substances covered by federal law was first raised by.
Journal ArticleDOI
The Effect of Information on Product Quality: Evidence from Restaurant Hygiene Grade Cards
Ginger Zhe Jin,Phillip Leslie +1 more
TL;DR: The authors examined the effect of an increase in product quality information to consumers on e rms' choices of product quality and showed that the grade cards cause restaurant health inspection scores to increase, consumer demand to become sensitive to changes in restaurants' hygiene quality, and the number of foodborne illness hospitalizations to decrease.
Journal ArticleDOI
Do LBO Supermarkets Charge More? An Empirical Analysis of the Effects of LBOs on Supermarket Pricing
TL;DR: This paper examined changes in supermarket prices in local markets following supermarket leveraged buyouts and found that prices rise following LBOs in markets in which the LBO firm's rivals are also highly leveraged and have higher prices than their less leveraged rivals.
Book ChapterDOI
Chapter 17 Contingent Valuation
TL;DR: Contingent valuation as mentioned in this paper is defined as the "valuation" estimated from preference information given the respondent is said to be "contingent" on the details of the "constructed market" for the environmental good put forth in the survey.
Journal ArticleDOI
The Effect of Price Advertising on Prices: Evidence in the Wake of 44 Liquormart
Jeffrey Milyo,Joel Waldfogel +1 more
TL;DR: This article found that advertising stores substantially cut only prices of the products that they advertise, while non-advertising stores do not change prices of other products, at both advertising and nonadvertising stores, and no reductions in price dispersion across stores.
References
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Book
Elements of econometrics
TL;DR: The emphasis is on simplification whenever possible, assuming the readers know college algebra and basic calculus, and Jan Kmenta explains all methods within the simplest framework, and generalizations are presented as logical extensions of simple cases.