Price management is one of the most central and sensitive elements of the process of managing a successful brand. Even a small change in price can have a disproportionate change in profitability, thereby increasing the importance of accurate and scientific ways of determining optimal prices....

The approach taken by researchers in the area of behavioral pricing is based on the psychological principles of human perception and information processing as well as on sociological principles of human relations and social norms. In this e-book we feature several researchers who have...

In this paper, we revisit the issue of excess sensitivity of consumption to income and address the weak instrument problem that is well documented in this literature. Using quarterly data for the U.S. economy, we first highlight the weak instrument problem by showing that the use of conventional...