This is the program for the 2010 Joint Statistical Meetings in Vancouver, British Columbia.
Abstract Details
Activity Number:
|
74
|
Type:
|
Contributed
|
Date/Time:
|
Sunday, August 1, 2010 : 4:00 PM to 5:50 PM
|
Sponsor:
|
Business and Economic Statistics Section
|
Abstract - #309089 |
Title:
|
On Another Form of Price Asymmetry: Detection at a Popular Restaurant Chain
|
Author(s):
|
Leo T. Upchurch*+ and Chia L. Chen
|
Companies:
|
Tuskegee University and Tuskegee University
|
Address:
|
2 BENJAMIN PAYTON DRIVE, TUSKEGEE, AL, 36088,
|
Keywords:
|
consumer expectation ;
PRICE ASYMMETRY ;
PROPORTIONALITY ;
ELEMENTARY NOTIONS ;
STATISTICS / MATHEMATICS
|
Abstract:
|
Asymmetric pricing is the phenomenon where prices rise more readily than they fall. This is the usually accepted definition, but in our case, we are extending the meaning to include situations in which the per unit cost of a good or service (chili in our case) is greater when it is served in a larger serving dish. When the price of an item or service increases, consumers expect a proportional increase in the amount, size, or service. If such proportionality is not given, there should at the very least be some compelling explanation. Our results show asymmetric pricing as we define it, in the cost of chili served in different size containers in two popular restaurant chains. The most obvious implication is that both chains appear to be profiting more handsomely than they should without giving the 'all-important' customer a 'fair shake'.
|
The address information is for the authors that have a + after their name.
Authors who are presenting talks have a * after their name.
Back to the full JSM 2010 program
|
2010 JSM Online Program Home
For information, contact jsm@amstat.org or phone (888) 231-3473.
If you have questions about the Continuing Education program, please contact the Education Department.