A Behavioral Economic Analysis of the Demand for Money in Humans
Description:
This study investigated the effects of unit price structure, unit price descriptions, and unit price sequence on the demand for money in humans. Six groups of 3 participants solved multiplication problems in exchange for money under various unit prices. Consumption of money decreased as the unit price increased across all conditions. However, the data also showed that: (a) fixed price structures produced slightly more elastic demand than did variable price structures, (b) price descriptions pro…
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Date:
December 2000
Creator:
Reyes, Jorge R.