We use a unique store-level data set to directly measure menu costs and to study the price change process at a large U … chains. We find that (1) the actual magnitude of menu costs as a share of revenues, (2) menu costs per price change, (3) the … components we measure, and the price change practices we document, may be generalizable across retail formats with these two …

revenues, 35.2% of net margins, and $0.52/price change. These menu costs may be forming a barrier to price changes …. Specifically, (1) a supermarket chain facing higher menu costs (due to item pricing laws which require a separate price tag on each …

We empirically study the price adjustment process at multiproduct retail stores. We use a unique store level data set … during the price change process. We also discuss various aspects of the microeconomic environment in which the price … adjustment decisions are made, factors affecting the price adjustment decisions, and firm-level implications of price adjustment …

frictionless. The main result is that a price process is arbitrage free (or, equivalently, compatible with some equilibrium) if and … frictions into account. …

environmental awareness, product innovation under network effects, and price competition whereby environmentally friendly products …

prices to oil price increases and decreases. Several time series measures of the asymmetry between the responses of gasoline … prices to oil price increases and decreases and several measures of the oil price volatility are constructed. In all models …, the degree of asymmetry in gasoline prices declines with an increase in oil price volatility. The results support the …