Gowdy, John M.; Yesilada, Atilla - In: Eastern Economic Journal 14 (1988) 4, pp. 399-408
This paper is an attempt to place oligopoly price stickiness into a pure uncertainty framework. Using the concept of the "reliability ratio," developed by Robert Heiner, the authors are able to show that price stickiness is a rational response to the demand uncertainty generated by oligopolistic...