ECON 584

Spring 2023

Homework #5

Due March 27 before class

1. Read the paper by Robert Lewis entitled “Price-Sensitivity Measurement” in blackboard (located in the Nestle & Carnation…” folder)

2. Explain and implement the price-stress analysis for a product of your choosing by asking a small number of fellow students or friends the required questions. What do you conclude from your survey?

3. Read/skim one of the two papers by Granger and Gabor placed on Blackboard. Review the economic discussion of price-sensitivity measurement in these papers and compare to the paper by Lewis and Shoemaker that you have previously read.

4. Review the book by Schuman and Professor: Questions and Answers in Attitude Surveys: Experiments on Question Form, Wording, and Context (available at the library – don’t check this book out or your colleagues will not be able to do their homework). Discuss how question form, wording, and context would affect price sensitivity measurement. (Hint: You should be able to find enough online from this book without the library source.) (HINT: “Review of Schuman and Pressor Book” on Blackboard in the Nestle and Carnation folder should be good enough).