Using a Natural Experiment to Estimate Price Elasticity: The 1974 Sugar Shortage and the Ready-to-Eat Cereal Market
利用1974年糖短缺导致加糖谷物价格在九个月内上涨24%这一自然实验，估计了加糖谷物的价格弹性，发现其弹性高于整个谷物类别。
Following the 1974 sugar shortage prices of presweetened cereal rose by 24% in nine months. This natural price experiment is analyzed to illustrate how events of this type can be used to estimate price elasticity. The results show a relatively high price elasticity for presweetened cereals compared to the cereal category as a whole.