Why does the average price of tuna fall during lent?
By: Aviv Nevo, Konstantinos Hatzitaskos.
Contributors: Hatzitaskos, Konstantinos.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 11572; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 11572.
Publisher: National Bureau of Economic Research
Published: 2005
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Consumer goods -- Prices -- Mathematical models.; Demand (Economic theory) -- Mathematical models.; Tuna -- Prices -- Illinois -- Chicago -- Case studies.
Genres: Case studies.
Description: "For many products the average price paid by consumers falls during periods of high demand.  We use information from a large supermarket chain to decompose the decrease in the average price into a substitution effect, due to an increase in the share of cheaper products, and a price reduction effect.  We find that for almost all the products we study the substitution effect explains a large part of the decrease.  We estimate demand for these products and show the price declines are consistent with a change in demand elasticity and the relative demand for different brands.  Our findings are less consistent with "loss-leader" models of retail competition"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
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Mode of access: World Wide Web.