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Heterogeneity in Price Rigidity: Evidence from a Case Study Using Micro-Level Data

Levy, Daniel; Dutta, Shantanu; Bergen, Mark - EconWPA - 2004

We combine two data sets to study price rigidity. The first consists of weekly time series of retail, wholesale, and spot prices for twelve products. These time series contain two exogenous cost shocks. We find that prices exhibit more rigidity in response to the second shock than the first. The...

Persistent link: https://www.econbiz.de/10005412696

Organization, Learning and Cooperation

Barr, Jason; Saraceno, Francesco - EconWPA - 2004

We model the organization of the firm as a type of artificial neural network in a duopoly framework. The firm plays a …

Persistent link: https://www.econbiz.de/10005561514

SEARCH, Variable Sample Size, A Computational Solution

Cosme, Pedro - EconWPA - 1997

Morgan (1983) guaranteed that VSS dominated both FSS and SSR. But it is difficult to calculate the optimal sample size and the optimal reservation price both without recall and with full recall. As VSS without recall is a simplification of VSS with full recall, we will present on appendix a VB30...

Persistent link: https://www.econbiz.de/10005561516

Evidence Theory: A Mathematical Framework for Unpredictable Hypotheses

Fioretti, Guido - EconWPA - 2002

Shafer's evidence theory is a branch of the mathematics of uncertain reasoning that allows for novel possibilities to … be conceived by a decision-maker. Many of its findings exhibit striking similarities with an alternative decision theory … purported by Shackle in the 1950s, before expected utility maximization monopolized the scene. Evidence theory does not attempt …

Persistent link: https://www.econbiz.de/10005125582

The Mortensen Rule and Efficient Coordination Unemployment

Kennes, John; Julien, Benoit; King, Ian - EconWPA - 2002

We study the implementation of constrained-efficient allocations in labour markets where a basic coordination problem leads to an equilibrium matching function. We argue that these allocations can be achieved in equilibrium if wages are determined by ex post bidding. This holds true even in...

Persistent link: https://www.econbiz.de/10005561074

Advertising, Pricing & Market Structure in Competitive Matching Markets

Bataille, Edner; Julien, Benoit - EconWPA - 2005

This paper develops a model of pricing and advertising in a matching environment with capacity constrained sellers. Sellers' expenditure on directly informative advertising attracts consumers only probabilistically. Consumers who happen to observe advertisements randomize over the advertised...

Persistent link: https://www.econbiz.de/10005076903

Asymmetric Wholesale Pricing: Theory and Evidence

Ray, Sourav; Chen, Haipeng; Bergen, Mark; Levy, Daniel - EconWPA - 2005

empirical support for, a theory of asymmetric pricing in wholesale prices. In particular, we show how wholesale prices may be … these on manufacturer prices in a supermarket scanner dataset to find support for our theory. We discuss the contributions …

Persistent link: https://www.econbiz.de/10005561258

Beyond the Cost of Price Adjustment: Investments in Pricing Capital

Zbaracki, Mark; Bergen, Mark; Dutta, Shantanu; Levy, Daniel - EconWPA - 2005

provocative implication of the new theory of pricing, however, is that the allocative efficiency of the price system itself may be … they can improve the efficiency of the “pricing production” activities by both reducing the costs of adjusting prices, and …

Persistent link: https://www.econbiz.de/10005561290

Price Flexibility in Channels of Distribution: Evidence from Scanner Data

Dutta, Shantanu; Bergen, Mark; Levy, Daniel - EconWPA - 2004

In this study, we empirically examine the extent of price rigidity using a unique store-level time series data set - consisting of (i) actual retail transaction prices, (ii) actual wholesale transaction prices which represent both the retailers' costs and the prices received by manufacturers,...

Persistent link: https://www.econbiz.de/10005561335

Differentiated duopoly under vertical relationships with communication costs

Ghosh, Arghya; Morita, Hodaka - EconWPA - 2002

Platform sharing across manufacturers has recently become common practice in the automobile industry. Its important objective is to reduce procurement costs by taking advantage of the commonality of components, but this often reduces the degree of product differentiation. We investigate this...

Persistent link: https://www.econbiz.de/10005561374

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