The First of the Month Effect: Consumer Behavior and Store Responses

• 成果类型: Article
• 署名作者: Hastings, Justine; Washington, Ebonya
• 署名单位: Yale University; National Bureau of Economic Research
• 刊物名称: AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY
• ISSN/ISSBN: 1945-7731
• DOI: 10.1257/pol.2.2.142
• 发表日期: 2010
• 页码: 142-162
• 关键词: food; INFORMATION; demand; cycle

摘要

Previous research has demonstrated that benefit recipients decrease expenditures on, and consumption of food throughout the benefit month. Using detailed grocery store scanner data, we ask two questions: whether cycling is due to a desire for variety that leads to within-month substitution across product quality, and whether cycling is driven by countercyclical retail pricing. We find that the decrease in food expenditures is largely driven by reductions in quantity, not quality, and that prices for foods purchased by benefit households vary pro-cyclically with demand, implying that households could save money by delaying their food purchases until later in the month. (JEL D12, I38)