Irreversible demand is relevant to pricing strategy and demand modeling with weekly data. Competing explanations include loss aversion and stockpiling. Irreversible models for U.S. cheese and table spreads suggest that stockpiling dominates loss aversion. Price smoothing may be an inappropriate strategy in this case. Reversible demand models applied to weekly data may overestimate own-price elasticities.Demand and Price Analysis,

Maynard, Leigh J.

English

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SOURCES OF IRREVERSIBLE CONSUMER DEMAND IN U.S. DAIRY PRODUCTS

SOURCES OF IRREVERSIBLE CONSUMER DEMAND IN U.S. DAIRY PRODUCTS

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