January 1, 2010 - Art Carden€¦ · Electronic copy available at: 1263316!!...

Electronic copy available at: http://ssrn.com/abstract=1263316

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January 1, 2010

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Electronic copy available at: http://ssrn.com/abstract=1263316

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1. Introduction and Background

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7. Heterogeneity

6%!*%=-!&%-#&*!-4!-0%!?3'%7(*%!1g!24;%7!3*;!%F37#3-%!-0%!$4-%*-(37!54&!0%-%&4+%*%(-<!4*!

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8. Conclusion

/0('!$3$%&!%=$74(-'!-0%!#*(`#%!+%4+&3$0(,!$3--%&*!45!63723&-!"#$%&,%*-%&!%=$3*'(4*!-4!

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References!

Z*;%&'4*D!9(,03%7!eJ!3*;!B3F(;!ZJ!93-'3J!!KQQOJ!!Z&%![%'-3#&3*-'![%377<!"#$%&'()(*+!Z2%&(,3.!!!64&\(*+!I3$%&D!E*(F%&'(-<!45!@37(54&*(38:%&\%7%<!3*;!G4&-0]%'-%&*!E*(F%&'(-<J !:3'(4-('D!IJIJ!3*;!e(*4D!9J!^KQQK_!X44;!1*'#55(,(%*,<!3*;!I&%F37%*,%!45!>F%&]%(+0-!324*+!Z;#7-!642%*J!Nutrition Insights 26D!E"BZ!@%*-%&!54&!G#-&(-(4*!I47(,<!3*;!I&424-(4*J!!:3'\%&D!C2%\J!!KQQN3J!!d4?!@&%3-(4*!4&!B%'-&#,-(4*.!e3?4&893&\%-!C55%,-'!45!637893&-!!C=$3*'(4*J!!Review of Economics and Statistics!YO^M_TMOP8MYUJ!!:3'\%&D!C2%\J!!KQQN?J!!"%77(*+!3!@0%3$%&!94#'%-&3$T!637893&-a'!C55%,-!4*![%-3(7!$&(,%'J!!!Journal of Urban Economics!NY^K_TKQU8KKVJ!!:3'\%&D!C2%\J!!KQQLJ!!60%*!H44;!1*'-&#2%*-'!H4!:3;T!Z![%$7<!-4!G%]#23&\D!t03*+D!3*;!!@(,,3&%773J!!E*(F%&'(-<!45!9(''4#&(!B%$3&-2%*-!45!C,4*42(,'!64&\(*+!I3$%&!QO8QLJ!!:3'\%&D!C2%\J!!KQQOJ!!/0%!@3#'%'!3*;!@4*'%`#%*,%'!45!637893&-a'!H&4]-0J!!Journal of

Economic Perspectives!KMÛ_TMOO8MVYJ!!:3'\%&D!C2%\!3*;!9(,03%7!G4%7J!!KQQOJ!!/0%!CF47F(*+!X44;!@03(*T!@42$%-(-(F%!C55%,-'!45!!637893&-a'!C*-&<!(*-4!-0%!"#$%&23&\%-!1*;#'-&<J!!64&\(*+!I3$%&D!E*(F%&'(-<!45!9(''4#&(!3*;!!E*(F%&'(-<!45!@37(54&*(38"3*!B(%+4J!!:03--3,03&<3D!d3<!3*;!G%%&3R!"44;J!!KQQNJ!!f%37-0!1*'#&3*,%!3*;!-0%!>?%'(-<!C=-%&*37(-<J!!G3-(4*37!:#&%3#!45!C,4*42(,![%'%3&,0D!64&\(*+!I3$%&!MMNKVJ!!@3&;%*D!Z&-!3*;!@03&7%'!@4#&-%23*,0%J!!KQQVJ!!637893&-D!e%('#&%D!3*;!@#7-#&%J!!Contemporary

Economic Policy KO^P_TPNQ8PLMJ!!@3&;%*D!Z&-D!@03&7%'!@4#&-%23*,0%D!3*;!d%&%2<!9%(*%&'J!!KQQV3J!!B4%'!637893&-![%;#,%!"4,(37!@3$(-37.!!Public Choice!MUYTMQV8MULJ!!@3&;%*D!Z&-D!@03&7%'!@4#&-%23*,0%D!3*;!d%&%2<!9%(*%&'J!!KQQV?J!!I3(*-(*+!-0%!/4]*![%;.!!637893&-!3*;!g37#%'J!!Business and Politics!MM^K_!3&-(,7%!NJ!!@3]7%<D!dJ!!MVVVJ!![3-(4*37!Z;;(,-(4*D!-0%!@4*'#2$-(4*!45!@374&(%'D!3*;!:4;<!6%(+0-J!!I0B!!B(''%&-3-(4*D!E*(F%&'(-<!45!@0(,3+4J!!@%*-%&'!54&!B('%3'%!@4*-&47!3*;!I&%F%*-(4*J!!KQQVJ!!C'-(23-%;!@4#*-<8e%F%7!I&%F37%*,%!45!B(3?%-%'!3*;!>?%'(-<qKQQOJ!!Morbidity and Mortality Weekly Report!NY^PN_TMKNV8MKLUJ!!@04#!"JD!H&4''23*!9JD!3*;!"355%&!fJD!KQQPJ!!Z*!%,4*42(,!3*37<'('!45!3;#7-!4?%'(-<T![%'#7-'!!5&42!-0%!:%03F(4&37![('\!X3,-4&!"#&F%(773*,%!"<'-%2J!!Journal of Health Economics!KUT!NLN8!NYOJ!!

KY!!

@04#!"JD!H&4''23*!9JD!3*;!"355%&!fJD!KQQLJ!![%$7<!-4!d4*3-03*!H&#?%&!3*;!9(,03%7!X&3\%'J!!!Journal of Health Economics!KNT!UYV8UVUJ!!@4#&-%23*,0%D!@03&7%'D!KQQVJ!![('(*+!@(+3&%--%!I&(,%'!3*;![('(*+!>?%'(-<T!@4(*,(;%*,%!4&!!E*(*-%*;%;!@4*'%`#%*,%.!!Journal of Health EconomicsD!54&-0,42(*+J!!@#-7%&D!H73%'%&D!3*;!"03$(&4D!KQQUJ!!60<!f3F%!Z2%&(,3*'!:%,42%!94&%!>?%'%.!!Journal of

Economic Perspectives.!!B&%]*4]'\(D!ZJ!3*;!"$%,-%&D!"JCJ!^KQQP_J!!I4F%&-<!3*;!4?%'(-<T!-0%!&47%!45!%*%&+<!;%*'(-<!3*;!!%*%&+<!,4'-'J!!American Journal of Clinical Nutrition OV^M_T!LlMLJ!!B#?%D!ZJD!/J!e%'-%&D!3*;!:J!C(;7(*!^KQQO_J!!X(&2!C*-&<!3*;!63+%'T!12$3,-!45!637893&-!H&4]-0!4*!C3&*(*+'!/0&4#+04#-!-0%![%-3(7!"%,-4&J!!1*'-(-#-%!45!1*;#'-&(37![%73-(4*'!64&\(*+!I3$%&!G4J!!((&]$'8MKL8QNJ!!B#**D![(,03&;D!KQQYJ!!>?%'(-<!3*;!-0%!ZF3(73?(7(-<!45!X3'-8544;T!3*!(*'-&#2%*-37!F3&(3?7%'!Z$$&43,0J!!64&\(*+!$3$%&D!E*(F%&('-<!45!6(',4*'(*893;('4*J!!C(;D!d%3*D!f%*&%<!HJ!>F%&23*D!B(%+4!I#+3D!3*;!93--0%]!ZJ!/#&*%&J!!KQQYJ!!X3-!@(-<T!!u#%'-(4*(*+!-0%![%73-(4*'0($!:%-]%%*!E&?3*!"$&3]7!3*;!>?%'(-<J!!Journal of Urban Economics!!LU^K_TUYN8PQPJ!!C](*+![D!",02(;!/D!c(77(*+']4&-0![D!t74-!ZD![3#;%*?#'0!"J!!KQQUJ!![%73-(4*'0($!:%-]%%*!!E&?3*!"$&3]7!3*;!I0<'(,37!Z,-(F(-<D!>?%'(-<D!3*;!94&?(;(-<J!American Journal of Health

Promotion MY^M_TPOlNOJ!!X(*\%7'-%(*!CJD!1J!X(%?%7\4&*D!HJ!63*+J!!G3-(4*37!2%;(,37!'$%*;(*+!3--&(?#-3?7%!-4!4F%&]%(+0-!!3*;!4?%'(-<T!f4]!2#,0D!3*;!]04a'!$3<(*+.!!Health AffairsD!6%?!C=,7#'(F%'T!6KMV86KKLJ!!X('023*D!@03&7%'J!!KQQLJ!!The Walmart EffectJ!!G%]!v4&\T!I%*+#(*!I&%''J!!X7%+37D!cJD!9J!@3&&477D![J!c#,)23&'\(D!3*;!@J!d40*'4*J!!MVVYJ!!>F%&]%(+0-!3*;!>?%'(-<!(*!-0%!E*(-%;!"-3-%'T!I&%F37%*,%!3*;!/&%*;'D!MVLQ8MVVPJ!!International Journal of ObesityD!KK^M_T!UV8POJ!!X7%+37!cJD!:J!H&3#?3&;D!BJ!6(77(32'4*D!3*;!9J!H3(7J!!KQQNJ!!C=,%''!;%3-0'!3''4,(3-%;!](-0!!#*;%&]%(+0-D!4F%&]%(+0-D!3*;!4?%'(-<J!!Journal of the American Medical Association!KVUT!MYLM8!MYLOJ!!X&3*\!eJD!Z*;&%'%*!9JD!3*;!",02(;!/J!!KQQPJ!!>?%'(-<![%73-(4*'0($'!](-0!@422#*(-<!B%'(+*D!!I0<'(,37!Z,-(F(-<D!3*;!/(2%!"$%*-!(*!@3&'J!!American Journal of Preventive Medicine!!KO^K_TYOJVLJ!!H%7?3,0!dJD!@7(,\!dJD!3*;!"-&3-23**!/JD!KQQOJ!!@0%3$!B4*#-'!3*;!C=$%*'(F%!:&4,,47(T!/0%!C55%,-!!45![%73-(F%!I&(,%'!4*!>?%'(-<J!!X74&(;3!"-3-%!E*(F%&'(-<!@477%+%!45!e3]D!I#?7(,!e3]![%'%3&,0!!

KV!!

I3$%&!wKLMJ!!!H(7%'8@4&-(D!:(77(%!3*;![4?%&-!dJ!B4*4F3*J!!KQQUJ!![%73-(F%!1*57#%*,%'!45!1*;(F(;#37D!"4,(37!!C*F(&4*2%*-37D!3*;!I0<'(,37!C*F(&4*2%*-37!@4&&%73-%'!45!637\(*+.!!American Journal of Public

Health!VUT!MNYU8MNYVJ!!!H74?37!1*'(+0-J!!KQQOJ!!/0%!I&(,%!12$3,-!45!637893&-T!Z*!E$;3-%!/0&4#+0!KQQLJ!!ZF3(73?7%!!0--$Tmm]]]J+74?37(*'(+0-J,42m9#7-(@7(%*-"-#;<m9#7-(@7(%*-"-#;<B%-3(7KPUYJ0-2J!!!!H4%-)D!"-%$03*!3*;!Z*(7![#$3'(*+03D!KQQLJ!!637893&-!3*;!"4,(37!@3$(-37J!!American Journal of

Agricultural EconomicsD!Z2%&(,3*!Z+&(,#7-#&37!C,4*42(,'!Z''4,(3-(4*D!F47J!YY^N_D!$3+%'!MUQP8!MUMQ!!H4%-)D!"-%$03*!3*;!f%23!"]32(*3-03*D!KQQLJ!!637893&-!3*;!@4#*-<86(;%!I4F%&-<J!!Social

Science Quarterly!YO^K_T!KMM8KKLJ!!H&#?%&D!d4*3-03*!3*;!X&3\%'D!9(,03%7D!KQQLJ!!B4%'!5377(*+!'24\(*+!7%3;!-4!&('(*+!4?%'(-<.!!Journal of Health Economics!KNT!MYU8MYOJ!!f3#'23*D!d%&&<!3*;!C$0&3(2!e%(?-3+J!!KQQPJ!!@I1!:(3'!5&42!"#$%&,%*-%&'T!B4%'!-0%!:e"!\*4]!!-03-!637893&-!C=('-'.i!!G:C[!64&\(*+!I3$%&!MQOMKJ!!f3#'23*D!d%&&<!3*;!C$0&3(2!e%(?-3+J!!KQQNJ!!@4*'#2%&!:%*%5(-'!X&42!1*,&%3'%;!@42$%-(-(4*!(*!!"04$$(*+!>#-7%-'T!9%3'#&(*+!-0%!C55%,-!45!637893&-J!!G:C[!64&\(*+!I3$%&!MMYQVJ!!f(,\'D!9(,03%7!dJ!!KQQOJ!!d4?!/#&*4F%&!3*;!63+%'!(*!-0%![%-3(7!"%,-4&T!/0%!1*57#%*,%!45!!63723&-J!!Journal of Private Enterprise!KK^K_TMUO8MNVJ!!f472%'D!/0423'!dJ!!KQQYJ!!/0%!B(55#'(4*!45!637893&-!3*;!C,4*42(%'!45!B%*'(-<J!G:C[!!64&\(*+!I3$%&!]MUOYUJ!!c3&R3*%*D!B3F(;J!!KQQLJ!!/0%!63723&-!C55%,-!3*;!-0%!G%]!X3,%!45!@3$(-37('2T!e3?4&!93&\%-!3*;!!@422#*(-<!C55%,-'!45!-0%!9%+3&%-3(7%&D!(*!G%7'4*!e(,0-%*'-%(*D!%;J!Wal-Mart: The Face of

Twenty-First Century CapitalismJ!!G%]!v4&\T!/0%!G%]!I&%''D!$$J!MPU8MLKJ!!e3\;3]3773D!B3&(#'!3*;!/423'!I0(7($'4*J!!KQQKJ!!/0%!H&4]-0!45!>?%'(-<!3*;!/%,0*474+(,37!!@03*+%T!Z!/0%4&%-(,37!3*;!C2$(&(,37!1*F%'-(+3-(4*J!!G:C[!64&\(*+!I3$%&!YVLNJ!!e3\;3]3773D!B3&(#'D!/423'!I0(7($'4*D!3*;!d3<!:03--3,03&<3J!!KQQNJ!!6%753&%8C*03*,(*+!/%,0*474+(,37!@03*+%!3*;!-0%!H&4]-0!45!>?%'(-<J!!Z2%&(,3*!C,4*42(,![%F(%]!I3$%&'!3*;!I&4,%%;(*+'!VN^K_TKNU8KNOJ!!!e4&;D!dJ!B%**('J!!KQQLJ!!63723&-!"#$%&,%*-%&!93&\%-!"03&%!45!H&4,%&<![%-3(7(*+!(*!EJ"J!!9%-&4$47(-3*!Z&%3'D!(*!"-3*7%<!BJ!:&#**!^%;J_D!Walmart World: The World's Biggest

Corporation in the Global Economy J!!>=54&;T![4#-7%;+%D!$$J!NN8LKJ!!

UQ!!

93+&3?(D!XJD!vJ!@0#*+D!"J!@03D!"J!v3*+J!!MVVMJ!!The Economics of Household ConsumptionJ!!G%]!v4&\T!I&3%+%&!I3$%&?3,\J!!!!G3-(4*37!@%*-%&!45!f%37-0!"-3-('-(,'J!!KQQYJ!!hI&%F37%*,%!45!4F%&]%(+0-D!4?%'(-<!3*;!%=-&%2%!4?%'(-<!324*+!3;#7-'T!E*(-%;!"-3-%'D!-&%*;'!MVOL8YQ!-0&4#+0!KQQN8KQQLJi!!ZF3(73?7%!0--$Tmm]]]J,;,J+4Fm*,0'm;3-3m0%'-3-m4F%&]%(+0-m4F%&]%(+0-n3;#7-J$;5J!!G%#23&\D!BJD!dJ!t03*+D!3*;!"J!@(,,3&%773J!!KQQYJ!!/0%!C55%,-'!45!637893&-!4*!e4,37!e3?4&!!93&\%-'J!!Journal of Urban Economics!LU^K_T!PQN8PUQJ!!G4**%23\%&D!dJD!CJ!X(*\%7'-%(*D!9J!C*+%7%*D!/J!f4%&+%&D!9J!X3&&%77<J!!KQQYJ!!f3F%!C554&-'!-4!![%;#,%!"24\(*+![%377<!@4*-&(?#-%;!-4!-0%!>?%'(-<!C$(;%2(,.!!Economic InquiryD!54&-0,42(*+J!!!>+;%*D!@JD!9J!@3&&477D!eJ!@#&-(*D!9J!9,B4]%77D!@J!/3?3\D!cJ!X%7+37J!!I&%F37%*,%!45!!>F%&]%(+0-!3*;!>?%'(-<!(*!-0%!E*(F%;!"-3-%'D!MVVV8KQQPJ!!Journal of the American Medical

AssociationD!KVND!KQQLD!MNPV8NNJ!!I0(7($'4*D!/J!3*;![J!I4'*%&J!!KQQUJ!!/0%!e4*+![#*!H&4]-0!45!>?%'(-<!3'!3!X#*,-(4*!45!!/%,0*474+(,37!@03*+%J!!Perspectives in Biology and Medicine!PLÛ_T"YO8"MQYJ!!I73*-(*+3D!Z*;&%]!dJ!3*;!"-%$03*(%!:%&*%77J!!KQQOJ!!/0%!Z''4,(3-(4*!:%-]%%*!E&?3*!"$&3]7!3*;!!>?%'(-<T!1'!(-!3!/]4863<!"-&%%-.!!Journal of Regional Science!PO^N_TYNO8YOVJ!![3**%<D!@JcJ!3*;!9,G323&3D!IJCJ!KQQKJ!!B4!0%37-0(%&!;(%-'!,4'-!24&%.!64&\(*+!I3$%&!QK8KKD!B%$3&-2%*-!45!Z$$7(%;!C,4*42(,'!3*;!93*3+%2%*-D!@4&*%77!E*(F%&'(-<J!![3'03;!1JD!H&4''23*!9JD!@04#!"JD!KQQLJ!x/0%!"#$%&!"()%!45!Z2%&(,3T!Z*!C,4*42(,!C'-(23-(4*!!45!:4;<!93''!1*;%=!3*;!>?%'(-<!(*!Z;#7-'Jx!Eastern Economic Journal!UK^M_T!MUU8MPYJ!![4'(*D!>;%7(3J!!KQQYJ!!/0%!C,4*42(,!@3#'%'!45!>?%'(-<T!Z!"#&F%<J!!Journal of Economic

Surveys!KK^P_TLMO8LPOJ!![#02D!@0&('-4$0%&J!!KQQQJ!!Z&%![%,%''(4*'!H44;!X4&!v4#&!f%37-0.!!Quarterly Journal of

EconomicsD!g47J!MMND!G4J!KD!LMO8LNQJ!![#02D!@0&('-4$0%&J!!KQQNJ!!f%37-0<!e(F(*+!(*!f3&;!/(2%'D!Journal of Health EconomicsD!!KP^K_D!93&,0!KQQND!UPM8LUJ!!"3-(3D!d%''(%D!d4'%$0!H373*\4D!3*;!Z**3!93&(3!"(%+38[()D!KQQPJ!!C3-(*+!3-!X3'-8544;![%'-3#&3*-'!!('!Z''4,(3-%;!](-0!B(%-3&<!1*-3\%D!B%24+&3$0(,D!I'<,04'4,(37!3*;!:%03F(4#&37!X3,-4&'!324*+!!Z5&(,3*!Z2%&(,3*'!(*!G4&-0!@3&47(*3J!!Public Health Nutrition!OTMQYV8MQVLJ!!",0355%&D!93&\D!KQQNJ!!y/1g[CHKT!"-3-3!24;#7%!-4!$%&54&2!%=-%*;%;!1gmK"e"D!H99!3*;!Z@mfZ@D!e19e!3*;!\8,73''!&%+&%''(4*!54&!$3*%7!;3-3!24;%7'J!!ZF3(73?7%!0--$Tmm(;%3'J&%$%,J4&+m,m?4,m?4,4;%m'PNLNQMJ0-27J!!

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Figure 1 – Changes over Time in Number of Walmart Supercenters and the Obesity Rate!

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Figure 2—Walmart Supercenters, 1990

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Figure 10—Walmart Supercenters, July 2009

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Table 1 – Theoretical Effects of Healthy, Unhealthy, and Restaurant Food Prices on

Healthy, Unhealthy, and Restaurant Food Consumption

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Table 2 – Summary Statistics

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:[X""!F3&(3?7%'! :91! [%'$4*;%*-a'!?4;<!23''!(*;%=! KLJLMK!^NJUNY_!

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"42%!0(+0!',0447! M!(5!3--%*;%;!'42%!0(+0!',0447!?#-!;(;!*4-!+&3;#3-%! QJQON!^QJKLP_!

f(+0!',0447! M!(5!+&3;#3-%;!0(+0!',0447!?#-!4?-3(*%;!*4!5#&-0%&!%;#,3-(4*! QJUQY!^QJPLK_!

"42%!,477%+%! M!(5!3--%*;%;!'42%!,477%+%!?#-!;(;!*4-!+&3;#3-%! QJKOO!^QJPPY_!

@477%+%! M!(5!+&3;#3-%;!5&42!,477%+%! QJUQM!^QJPNV_!

X%237%! M!(5!5%237%! QJPVL!^QJNQQ_!

[3,%T!?73,\! M!(5!&3,%!('!?73,\! QJQVL!^QJKVN_!

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B(',4#*-!'-4&%'! 63723&-!;(',4#*-!'-4&%'!%F%&!%*-%&%;!$%&!MQQDQQQ! QJVMY!^MJMPL_!

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E*%2$74<2%*-! E*%2$74<2%*-!&3-%! NJMKL!^KJQMM_!

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Table 3 – Effect of Distance-Year Interactions on Walmart Supercenters per 100,000

Residents (First Stage)!

! "#$%&,%*-%&'!

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B('-3*,%AMVVY! 8QJQQQMK!^QJQQQQK_AAA!

B('-3*,%AMVVV! 8QJQQQMV!^QJQQQQK_AAA!

B('-3*,%AKQQQ! 8QJQQQKV!^QJQQQQU_AAA!

B('-3*,%AKQQM! 8QJQQQUY!^QJQQQQU_AAA!

B('-3*,%AKQQK! 8QJQQQPL!^QJQQQQP_AAA!

B('-3*,%AKQQU! 8QJQQQNP!^QJQQQQP_AAA!

B('-3*,%AKQQP! 8QJQQQLU!^QJQQQQN_AAA!

B('-3*,%AKQQN! 8QJQQQOO!^QJQQQQL_AAA!

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Table 4 – Effects of Walmart Supercenters on BMI and P(Obese) (Second Stage)!

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Table 5 – Robustness Checks!

! ! :91! >?%'%!

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Table 6 – Effects of Walmart Supercenters on BMI and P(Obese) for Subsamples

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Appendix A – Savings from Wal-Mart

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