-convex. Theory suggests therefore that introducing inconveniences all at once will generally be more pro table for web content …

We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …

major theories are proposed to model the reference price reaction: assimilation contrast theory and prospect theory. We …