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Information and Food Prices

Authors: Roger E. Alcaly;

Information and Food Prices

Abstract

This paper uses a model of search to derive testable hypotheses about the relationships among the distributions of prices which prevail in areas whose residents have different income levels. The hypotheses are examined by using data obtained from a comprehensive survey of food prices conducted in New York City during the summer of 1967. As expected on the basis of the theoretical analysis the partial elasticity of search for lower prices of the ith commodity by residents of the jth regions with respect to the income of the residents of region j was found to be an increasing function of the income elasticities of the various commodities, even when search activity is approximated by the means and standard deviations of prevailing prices.

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Powered by OpenAIRE graph
Found an issue? Give us feedback
selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
17
Average
Top 10%
Average
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