Irreversible demand is relevant to pricing strategy and demand modeling with weekly data. Competing explanations include loss aversion and stockpiling. Irreversible models for U.S. cheese and table spreads suggest that stockpiling dominates loss aversion. Price smoothing may be an inappropriate strategy in this case. Reversible demand models applied to weekly data may overestimate own-price elasticities.
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2000 Annual meeting, July 30-August 2, Tampa, FL with number
21876.
Length: Date of creation: 2000 Date of revision: Handle: RePEc:ags:aaea00:21876
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