@techreport{NBERw11572,
 title = "Why Does the Average Price of Tuna Fall During Lent?",
 author = "Aviv Nevo and Konstantinos Hatzitaskos",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "11572",
 year = "2005",
 month = "August",
 URL = "http://www.nber.org/papers/w11572",
 abstract = {For many products the average price paid by consumers falls during periods of high demand. We use information from a large supermarket chain to decompose the decrease in the average price into a substitution effect, due to an increase in the share of cheaper products, and a price reduction effect. We find that for almost all the products we study the substitution effect explains a large part of the decrease. We estimate demand for these products and show the price declines are consistent with a change in demand elasticity and the relative demand for different brands. Our findings are less consistent with "loss-leader" models of retail competition.},
}