A Behavioral Economic Analysis of the Demand for Money in Humans

This study investigated the effects of unit price structure, unit price descriptions, and unit price sequence on the demand for money in humans. Six groups of 3 participants solved multiplication problems in exchange for money under various unit prices. Consumption of money decreased as the unit price increased across all conditions. However, the data also showed that: (a) fixed price structures produced slightly more elastic demand than did variable price structures, (b) price descriptions produced more elastic demand under variable price structures but had little or no effect under fixed price structures, and (c) the alternate sequence used with fixed price structures produced slightly more elastic demand.

Grantor dc:publisher

University of North Texas

Year dc:date

2000

Author dc:creator

• Reyes, Jorge R.

Contributors dc:contributor

• Hyten, Cloyd
• Rosales Ruíz, Jesús
• Smith, Richard

• Incentive (Psychology)
• money
• elasticity
• behavioral economics
• unit price
• unit price sequence

Statement dc:rights

• Public
• Copyright
• Reyes, Jorge R.
• Copyright is held by the author, unless otherwise noted. All rights reserved.

Language dc:language

English

Identifier

oclc: 47770958
https://digital.library.unt.edu/ark:/67531/metadc2704/
ark: ark:/67531/metadc2704

OAI identifier oai:identifier

info:ark/67531/metadc2704