## Abstract In 1992, the United States Centers for Medicare and Medicaid Services (CMS) introduced new insurance coverage for two preventive services โ influenza vaccinations and mammograms. Economists typically assume transactions occur with perfect information and foresight. As a test of the valu
The Financial and Physical Insurance Benefits of Price-Responsive Demand
โ Scribed by Eric Hirst
- Publisher
- Elsevier Science
- Year
- 2002
- Tongue
- English
- Weight
- 258 KB
- Volume
- 15
- Category
- Article
- ISSN
- 1040-6190
No coin nor oath required. For personal study only.
โฆ Synopsis
The Financial and Physical Insurance Beneยฎts of Price-Responsive Demand Implementing price-responsive demand programs requires policymakers to understand and accept the insurance aspects of dynamic pricing. Like other forms of insurance, the beneยฎts are greatest when you most need them.
๐ SIMILAR VOLUMES
We determine empirically how automakers accommodate shocks to demand. Using data on production, sales, and transaction prices, we estimate a dynamic profit maximization model of the firm. We demonstrate that when an automaker is hit with a vehicle-specific demand shock, sales respond immediately and