List, John A. (contributor); Reiley, David H. (contributor) - 2008
heterogeneously. Despite the use of “representative consumer”
models, we know that not all consumers purchase the same bundle of … absence
of a $9 price ending. For example, a cotton dress may be offered to all consumers, but at
prices of $34, $39, and … of $39 actually produced higher
quantities than a price of $34. Their results reject the theory that consumers turn a …