Dynamic pricing is often complicated by strategic customer behavior. One tactic utilized by retailers to counter strategic customer behavior is to adjust prices in an unpredictable manner. This phenomenon has been studied in the Markovian pricing literature in single-retailer settings. In this...

Estimated effects of relative prices on trade shares are presented in this paper for 64 countries. The equations are estimated using pooled time series, cross section data under the assumption that the error term is serially correlated across time and heteroskedastic across countries. The...