Posts Tagged ‘demand elasticity’

  • Marijuana legalization is about demand, supply, market structure and cost benefit analysis.

    An Economic High?

    Nov 25, 12 • 520 Views • No Comments

    On November 6, Colorado voters resoundingly agreed that recreational use of marijuana would become legal. However, as Colorado Governor John Hickenlooper said, “…federal law still says marijuana is an illegal drug so don’t break out the Cheetos or...  [read more]

  • Gasoline prices add 9/10 at the margin

    A Gas Price That Might Matter

    Mar 5, 12 • 376 Views • 2 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...  [read more]

  • Responding to the Sound of a Price

    Jan 21, 10 • 271 Views • No 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...  [read more]

  • No Need For Psychiatry; Just Ask Dr. Economist

    Jan 8, 10 • 203 Views • No 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...  [read more]