unchanging cost offers random ‘sales’ to increase customers’ expectation to consume, attracting more demand at high prices. …

size then costs more per unit than the small one. When quantity surcharges occur the sales of the large size decrease only …

based on Yeaple’s complex FDI concept. In its simplest form, horizontal-ness is measured as affiliates’ local sales share … in the EU and Asia. Affiliates became more vertical between 1996 and 2005. A four-way sales and sourcing split (host …

A striking fact about prices is the prevalence of "sales": large temporary price cuts followed by a return exactly to … the former price. This paper builds a macroeconomic model with a rationale for sales based on firms facing consumers with … different price sensitivities. Even if firms can vary sales without cost, monetary policy has large real effects owing to sales …

not change when using additional control variables. We do not find a clear pattern between volatility and segmentation …