Why Swimming Pools Can't Raise Prices
Tuesday, October 28, 2014 - 12:03
in Mathematics & Economics
If it isn't taxes, it is OPEC but oil prices are likely to go up - people are still going to drive. It's necessary. So is physical fitness but a new economics analysis finds that if prices to swim go up, people are inclined to drop it rather than pay more - but a gym membership stays. That's reason enough for economists behind a new paper to advocated a new government subsidy. The work by Brunel University London's Health Economics Research Group consisted of interviews with 1,683 people, 83% of whom took part in physical activity in some form. It found that people facing 10% higher entry fees to swimming pools were 29% less active, once other variations such as their age and differences in income were taken into account. read more