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Not All Price Endings Are Created Equal: Price Points and Asymmetric Price Rigidity
Snir, Avichai; Levy, Daniel; Gotler, Alex; Chen, Haipeng - Volkswirtschaftliche Fakultät, … - 2012
There is evidence that 9-ending prices are more common and more rigid than other prices. We use data from three sources: a laboratory experiment, a field study, and a large US supermarket chain, to study the cognitive underpinning and the ensuing asymmetry in rigidity associated with 9-ending...
Persistent link: https://www.econbiz.de/10011111811
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Shrinking Goods and Sticky Prices: Theory and Evidence
Snir, Avichai; Levy, Daniel - Volkswirtschaftliche Fakultät, … - 2011
price) adjustment mechanisms and, consequently, the market may reach a new equilibrium even if prices remain sticky. We … adjustment costs over time and across economic conditions. …
Persistent link: https://www.econbiz.de/10008871165
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Asymmetric Price Adjustment in the Small
Levy, Daniel; Chen, Haipeng; Ray, Sourav; Bergen, Mark - Volkswirtschaftliche Fakultät, … - 2006
Analyzing a large weekly retail transaction price dataset, we uncover a surprising regularity—small price increases occur more frequently than small price decreases for price changes of up to about 10 cents, while there is no such asymmetry for larger price changes. The asymmetry holds for the...
Persistent link: https://www.econbiz.de/10005616619
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Explicit Evidence of an Implicit Contract
Young, Andrew; Levy, Daniel - Volkswirtschaftliche Fakultät, … - 2013
evidence of the Company both acknowledging and acting on this implicit contract. We explore quality as a margin of adjustment …
Persistent link: https://www.econbiz.de/10011257711
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Holiday Price Rigidity and Cost of Price Adjustment
Levy, Daniel; Müller, Georg; Chen, Haipeng; Bergen, Mark; … - Volkswirtschaftliche Fakultät, … - 2008
, become more urgent during holidays. As a result, the holiday-period opportunity cost of price adjustment may increase … argue that these findings are best explained by higher price adjustment costs (menu cost) the retailers face during the …
Persistent link: https://www.econbiz.de/10005616644
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Discussion of "Lumpy Price Adjustments: A Microeconometric Analysis" by Dhyne, et al. (2007)
Levy, Daniel - Volkswirtschaftliche Fakultät, … - 2007
Discussion of "Lumpy Price Adjustments: A Microeconometric Analysis" by Emmanuel Dhyne, Catherine Fuss, Hashem Pesaran, and Patrick Sevestre (2007); Presented at the Spring 2007 Conference of the Deutsche Bundesbank and the Banque De France on "Micro-Data and Macroeconomic Implications," April...
Persistent link: https://www.econbiz.de/10005836083
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Discussion of "Inflation and Relative Price Asymmetry" by Ratfai, A.
Levy, Daniel - Volkswirtschaftliche Fakultät, … - 2007
This is a discussion of Ratfai (2007), presented at the 2007 Macroeconomics Workshop of the Rimini Center for Economic Analysis on "The Macroeconomics of Price Setting," May 10-11, 2007, University of Bologna, Rimini, Italy.
Persistent link: https://www.econbiz.de/10011107663
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Discussion of "The Pricing Behavior of Firms in the Euro Area: New Survey Evidence," by Fabiani, S., et al. (2004)
Levy, Daniel - Volkswirtschaftliche Fakultät, … - 2004
Discussion of "The Pricing Behavior of Firms in the Euro Area: New Survey Evidence" by S. Fabiani, M. Druant, I. Hernando, C. Kwapil, B. Landau, C. Loupias, F. Martins, T. Mathä, R. Sabbatini, H. Stahl, and A. Stockman (2004); Presented at the Inflation Persistence Network (IPN) Conference on...
Persistent link: https://www.econbiz.de/10005789749
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Price Points and Price Rigidity
Levy, Daniel; Lee, Dongwon; Chen, Haipeng; Kauffman, Robert - Volkswirtschaftliche Fakultät, … - 2007
We offer new evidence on the link between price points and price rigidity using two datasets. One is a large weekly transaction price dataset, covering 29 product categories over an eight-year period from a large U.S. supermarket chain. The other is from the Internet, and includes daily prices...
Persistent link: https://www.econbiz.de/10005789777
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The Real Thing: Nominal Price Rigidity of the Nickel Coke, 1886–1959
Levy, Daniel; Young, Andrew - Volkswirtschaftliche Fakultät, … - 2004
limited the Company’s price adjustment options due to limited availability and unreliability of the existing flexible price … adjustment technologies, and (3) a single-coin monetary transaction technology, which limited the Company’s price adjustment … options due to the customer “inconvenience cost.” We show that these price adjustment costs are of a different nature than the …
Persistent link: https://www.econbiz.de/10005789801