Posts Tagged ‘demand elasticity’

  • Gasoline prices add 9/10 at the margin

    A Gas Price That Might Matter

    Mar 5, 12 • 221 Views • Demand, Supply, and Markets, Developing Economies, Economic History, Environment, Households, International Trade and Finance, Macroeconomic Measurement, Thinking Economically, Uncategorized2 Comments

    Is it $4.11? Although gasoline prices are rising, consumers have not altered their driving habits. Economist James Hamilton suggests that the tipping point tends to be when prices exceed the highest point during the past 3 years. That number is $4.11 or $4.27

  • Responding to the Sound of a Price

    Jan 21, 10 • 176 Views • Thinking EconomicallyNo Comments

    Does $2.22 sound very different from $2.33? The answer is yes. In a soon-to-be-released study by Keith Coulter of Clark University and Robin Coulter of the University of Connecticut in The Journal of Consumer Research, research indicates that shoppers expect

  • No Need For Psychiatry; Just Ask Dr. Economist

    Jan 8, 10 • 128 Views • Thinking EconomicallyNo Comments

    In today’s Notes post, the link is to Dear Economist, written by Tim Harford for the Financial Times. Using economic ideas to provide answers about love and life, he proves that economics is about so much more than money. Opportunity cost can provide an