Table 3.
Low income | High income | |
---|---|---|
1. Regular CSD | 0.726 (93.0) | 0.114 (16.5) |
2. Sports/energy drinks | 0.679 (79.0) | 0.683 (56.4) |
3. Whole milk | 0.553 (45.0) | −0.146 (−0.8) |
4. Reduced-fat/skim milk | 0.596 (110.6) | 0.074 (16.8) |
5. Whole-grain bread | 0.574 (73.2) | 0.603 (53.5) |
6. White bread | 0.482 (110.9) | 0.009 (8.8) |
7. Cheese | 0.459 (139.0) | 0.170 (34.8) |
8. 100% juice | 0.554 (138.5) | 0.369 (63.9) |
9. Juice drinks | 0.402 (84.1) | 0.363 (46.6) |
10. Peanut butter | 0.784 (89.6) | 0.080 (10.7) |
11. Cereals | 0.533 (142.6) | 0.184 (33.7) |
12. Yogurt | 0.682 (110.4) | 0.298 (51.2) |
13. Diet CSD | 0.738 (135.2) | 0.582 (59.8) |
14. Bottled water | 0.820 (126.6) | 0.354 (32.6) |
15. Canned/dried fruits | 0.379 (84.0) | 0.194 (17.0) |
16. Canned vegetables | 0.337 (66.8) | 0.173 (17.0) |
17. Frozen dinners | 0.540 (128.7) | 0.177 (27.0) |
18. Canned soup | 0.637 (110.7) | 0.131 (23.6) |
19. Candy | 0.482 (76.9) | 0.181 (15.9) |
20. Ice cream | 0.486 (137.9) | 0.059 (14.5) |
21. Cakes & cookies | 0.341 (88.6) | 0.201 (16.7) |
22. Lunch meat | 0.639 (100.7) | 0.103 (13.9) |
23. Snacks | 0.383 (111.8) | 0.346 (47.1) |
24. All other goods | 1.020 (5,157.9) | 1.018 (5,148.2) |
Note: All elasticities are median values within the corresponding income status weighted by Nielsen’s projection factor. Results are based on the incomplete demand model that accounts for price endogeneity with L = 5. t-values in parentheses.