If you ask a student of economics what price is, he will answer that it is the factor which equates supply with demand. He is likely to add that, in a competitive market, price will tend to settle at a level at which no excess profits are made by the producers and the distributors, while a...

Synopsis This paper has two purposes, closely connected with one another. The first is to fill a gap by presenting a consistent theory of block tariffs; the second is to dispel some misconceptions found in the works of standard authors concerning this form of pricing. The main misconceptions...

In his elegant demonstration of the fundamental limitation of Steiner's theory of peak load pricing Buchanan has correctly retained Steiner's analytical technique and all but one of the original assumptions. Buchanan has made his point with admirable clarity; yet it seems worthwhile to...

The authors report on an enquiry they carried out in Nottingham, to determine the extent to which housewives are conscious of the price of an article at the time of its purchase. They find that for many of the fifteen grocery products covered, a high proportion of housewives were aware of the...

Even the best advertising campaign may fail if the price of the product is not appropriate, yet retail prices are still determined more by rules of thumb than systematic study.

Introduction A product may be called new for two reasons: either because it is a novelty in the fullest sense of the word, intended to cater for a hitherto latent demand, or merely because it is a new brand, which will have to compete with a number of other brands in an established market.

I. Introduction It is generally accepted that price may enter into the determination of consumers' choice in two ways: as an indicator of cost and as an indicator of quality. Contemporary demand theory rests heavily on the first of these two functions while the second tends to be treated as if...

It is stated in a recent commercial publication that of a set of products test marketed in the course of recent years, 20 per cent of the failures was mainly due to the price and the product not being well matched. While the statistical evidence presented appears to be rather too slender to...

If you ask a student of economics what price is, he will answer that it is the factor which equates supply with demand. He is likely to add that, in a competitive market, price will tend to settle at a level at which no excess profits are made by the producers and the distributors, while a...

It seems to me that there are two main ways in which the economist can contribute to the solution of the problem which I have been invited to introduce for discussion. First, he can help by developing a systematic approach based on a realistic appraisal and analysis of the issues involved....