We show that observed behaviour can be rationalised by the fact that the shadow price of home-cooked food, which accounts for the fact that cooking takes time, has risen relative to the price of ready-to-eat food.
The government is consulting on whether to introduce an online sales tax to pay for a reduction in business rates. Would that be a good idea? How might it work in practice, and what would be the effects on businesses, consumers and the high street?
