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- Title
Using a Natural Experiment to Estimate Price Elasticity: The 1974 Sugar Shortage and the Ready-to-Eat Cereal Market.
- Authors
Neslin, Scott A.; Shoemaker, Robert W.
- Abstract
Following the 1974 sugar shortage prices of presweetened cereal rose by 24% in nine months. This natural price experiment is analyzed to illustrate how events of this type can be used to estimate price elasticity. The results show a relatively high price elasticity for presweetened cereals compared to the cereal category as a whole.
- Subjects
ELASTICITY (Economics); PRICES; SUGAR industry; ECONOMIC demand; SUGAR prices; SCARCITY; PREPARED cereals; CEREAL products industry; PRICING; PREPARED cereal advertising; ECONOMICS
- Publication
Journal of Marketing, 1983, Vol 47, Issue 1, p44
- ISSN
0022-2429
- Publication type
Article
- DOI
10.1177/002224298304700105