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Memory for prices and the euro cash changeover: An analysis for cinema prices in Italy

  • Vincenzo Cestari

    ()

    (Universit� Lumsa and CNR)

  • Paolo Del Giovane

    ()

    (Bank of Italy)

  • Clelia Rossi-Arnaud

    ()

    (Universit� di Roma - La Sapienza)

Registered author(s):

    The question addressed by this study is whether consumers remember past prices correctly. We test Italian citizens� memory for cinema prices with questionnaires distributed to moviegoers. The analysis concentrates on the memory of pre-euro prices, but the recall for a more recent period is also investigated. The results show that only a small percentage of respondents recalled the correct price, and that the average prices recalled were much lower than the actual pre-euro prices and dated back to years before the changeover. Price recall is less accurate for the respondents who perceive higher and more persistent inflation; it is also worse for the older respondents and for the less frequent movie-goers.

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    File URL: http://www.bancaditalia.it/pubblicazioni/temi-discussione/2007/2007-0619/en_tema_619.pdf
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    Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Temi di discussione (Economic working papers) with number 619.

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    Date of creation: Feb 2007
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    Handle: RePEc:bdi:wptemi:td_619_07
    Contact details of provider: Postal: Via Nazionale, 91 - 00184 Roma
    Web page: http://www.bancaditalia.it

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