Laboratory market examination shows how consumer price responses vary based on reported costs, suggesting implications for pricing strategy.
Demonstrates that consumers respond differently to a market event depending on the information reported about the event. Principle of dual entitlement; Factors which affect consumers' response to prices; Combined effect of a change in the sellers' tax rate and tax base; Advantages of a tax setting for testing the theory; Calculation of profits.
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Kachelmeier et al. (1991) studied this question.
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