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In a standard general equilibrium model it is assumed that there are no price restrictions and that prices adjust infinitely fast to their equilibrium values. Price rigidities may cause that a competitive equilibrium cannot be attained, and rationing on net demands or supplies is needed to clear...
Persistent link: https://www.econbiz.de/10014113427
theory. Neoclassical indeterminacy occurs only in environments where relative prices can change through time; otherwise … capital-theoretic paradoxes arise in intertemporal general equilibrium modes, not just in aggregative theory, cannot be …
Persistent link: https://www.econbiz.de/10014113690
under conventional demand theory that has not been rigorously tested. Exploiting rapid expansion in municipal subsidies for …
Persistent link: https://www.econbiz.de/10014090934
Überblick über die behandelten Problembereiche -- Statische Preistheorie -- Dynamische Preistheorie und strategisches … Preismanagement -- Verhaltensorientierte Preistheorie -- Preisdifferenzierung und Preissysteme -- Preismanagement im Handel und …. Der Inhalt Überblick über die behandelten Problembereiche Statische Preistheorie Dynamische Preistheorie und strategisches …
Persistent link: https://www.econbiz.de/10014017550
This chapter focuses on the effect of non- binding price controls in double auction trading.Static price theory …
Persistent link: https://www.econbiz.de/10014023642
This paper compares one-part pricing and two types of two-part pricing in a general discrete-continuous choice model, providing more extensive welfare results than prior literature. Under two-part pricing, firms may set fixed fees with or without unit-price commitment. When unit-price commitment...
Persistent link: https://www.econbiz.de/10014026651
In this paper, we apply supermodular game theory to the equilibrium search literature with sequential search. We …
Persistent link: https://www.econbiz.de/10014026660
settlement, a theory flowing from the Coase Theorem. The cost-benefit analysis weighs settlement against the expected value of … economics to construct a pricing theory of legal disputes. In addition to probability and transaction cost, dispute risk must …
Persistent link: https://www.econbiz.de/10014027134
We present a model of dynamic monopoly pricing for a good that displays network effects. In contrast with the standard notion of a rational-expectations equilibrium, we model consumers as boundedly rational, and unable either to pay immediate attention to each price change, or to make accurate...
Persistent link: https://www.econbiz.de/10014027236
Persistent link: https://www.econbiz.de/10013338801