Table 6. Estimates of reaction to price change.
| Current Buyers | Potential Buyers | ||
|---|---|---|---|
| Dependent variable: | log(Quantity bought per week) | Dependent variable: | Quantity bought per week |
| log(price) | -0.328*** (0.059) | price | −35.000*** (2.018) |
| log(price) x wealth | 0.016 (0.01) | price x wealth | 1.557*** (0.379) |
| Marginal effects: | Marginal effects: | ||
| mfxSES1 | -26.44*** (4.19) | mfxSES1 | -33.44*** (1.67) |
| mfxSES2 | -25.12*** (3.41) | mfxSES2 | -31.88*** (1.35) |
| mfxSES3 | -26.33*** (2.96) | mfxSES3 | -30.32*** (1.06) |
| mfxSES4 | -24.88*** (2.27) | mfxSES4 | -28.77*** (0.84) |
| mfxSES5 | -27.31*** (2.11) | mfxSES5 | -27.21*** (0.77) |
| mfxSES6 | -25.62*** (2.09) | mfxSES6 | -25.65*** (0.87) |
| mfxSES7 | -20.82*** (2.25) | mfxSES7 | -24.09*** (1.10) |
| mfxSES8 | -19.35*** (2.94) | mfxSES8 | -22.54*** (1.39) |
| mfxSES9 | -18.84*** (3.96) | mfxSES9 | -20.98*** (1.72) |
| mfxSES10 | -17.29*** (4.88) | mfxSES10 | -19.42*** (2.07) |
| Observations | 2,354 | Observations | 4,804 |
| R2 | 0.127 | R2 | 0.346 |
| Adjusted R2 | 0.063 | Adjusted R2 | 0.173 |
| F Statistic | 85.63*** (df = 2; 1175) | F Statistic | 633.480*** (df = 2; 2400) |
Note:
*** p < 0.01