In a partial equilibrium setting without price uncertainty, the balanced-budget substitution of an ad valorem tax on … competitive market characterised by uncertainty about the commodity price, if firms can respond to the revelation of demand …

In this paper we show that price equalization alone is not sufficient to determine the barriers to international trade …. There are many barrier combinations that deliver price equalization, but each combination implies a different volume of … goods will deliver price equalization in capital goods, but cannot reproduce the observed trade flows. -- international …

We study price formation in the standard model of consumer search for differentiated products but allow for search cost … important but often neglected aspect of the price mechanism. Recognizing the role the equilibrium price plays in consumers …

In this paper we focus on specification of revenue functions in their dual price space. We consider two distance …, both in price space. The former is multiplicative, satisfying homogeneity, the latter is additive satisfying transitivity …

's familiar argument on the price of a non-renewable resource: it must grow at the rate of the next best use of marginal funds … global mitigation policy with carbon price paths for different countries growing (efficiently) at different rates. …

In this article, we combine machine learning techniques with statistical moments of the gasoline price distribution. By …

overvalues a product attribute - quality or price - that stands out in a particular choice situation. In a highly competitive low-price … environment like on an online platform, consumers focus more on price rather than quality. Especially if the market power of local … (physical) retailers is low, price tends to be salient also in the local store, which is unfavorable for the high …

competing products, the price of individual products tends to fall over the product lifetime. This holds true for more than 90 …% of the expenditure items underlying the U.K. consumer price index and has important normative implications. Constructing … a sticky price model featuring a product life cycle and rich amounts of heterogeneity, we explain how the optimal …

of price sensitive consumers, the higher the pass-through rate. Second, there is a hump-shaped relationship between the … changes to diesel and gasoline prices using a unique dataset containing the universe of price changes at fuel stations in …