@article {11331,
	title = {The Rise of Fringe Competitors in the Wake of an Emerging Middle Class: An Empirical Analysis},
	journal = {American Economic Journal: Applied Economics},
	volume = {7},
	year = {2015},
	pages = {85-122},
	abstract = {The "emerging middle class" is a force of economic importance in many consumer markets around the globe. A striking phenomenon in some of these markets is the growth of "generic," low-price brands. This paper examines these phenomena in Brazil{\textquoteright}s large soft drink market. Our study draws on data sources that capture both social mobility and market outcomes. Our analysis suggests that the emergence of a price-sensitive, new middle class aided the staggering growth of a fringe of generic producers. Our estimated demand model rationalizes a drastic price cut, led by Coca-Cola, that allowed it to contain the fringe{\textquoteright}s growth.},
	url = {http://pubs.aeaweb.org/doi/pdfplus/10.1257/app.20130104},
	author = {Eizenberg, Alon and Alberto Salvo}
}
